Lazada Group is a Singaporean multinational technology company which focuses mainly on e-commerce.Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016. , was the most downloaded e-commerce app and the most used in Southeast Asia as of end-2019, knocking Lazada to second place, according to research firm iPrice. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post. Visit our Community Guidelines for more information and details on how to adjust your email settings. Lazada Group has appointed Chun Li as the group chief executive officer (CEO), a media release revealed. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Li will work to improve Lazada’s performance through data technology application and business localisation, the company said. See here for a complete list of exchanges and delays. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. The change was made after a middling performance from the e-commerce firm, two sources with knowledge of the matter told Reuters, declining to be identified as they were not authorised to speak to media. Singapore-based Shopee, which is … Three sources also told Reuters Lazada is examining whether to rebrand or shut down LazMall, its take on Alibaba’s Tmall marketplace where companies set up virtual shops. © 2021 Financial Post, a division of Postmedia Network Inc. All rights reserved. Chun Li, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. Before the appointment, Li was appointed co-president in June 2017 and was also named Lazada Indonesia CEO in July 2019. Lazada Group Chief Executive Officer and co-founder Pierre Poignant will be replaced by Chun Li, a former Alibaba executive, who is currently Lazada c.. ... Chinese investments worth … We ask you to keep your comments relevant and respectful. SINGAPORE (Reuters) - Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd BABA.N, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. In 2014, Lazada Group operated sites in multiple countries and had raised approximately US$647 million over several investment rounds from … Reuters reported earlier on Friday that Poignant would be replaced by Chun Li, citing sources. Two people with knowledge of the matter said the move is due to the e-commerce firm’s middling performance. A Lazada spokesman said there was “no truth to this statement” and the company rejected what it called an unsubstantiated assessment of its performance. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. He will succeed Pierre Poignant, who will become special assistant to Alibaba Group chair and CEO Daniel Zhang. The firm said in a statement that Lazada Group Chief Executive Officer and co-founder Pierre Poignant will be replaced by Chun Li, a former Alibaba executive, who is currently Lazada co-president and head of its Indonesia operations. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Lazada, the Southeast Asian arm of Chinese e-commerce firm Alibaba Group Holding, said on Friday it would replace its chief executive officer, as it battles for dominance in the fast-growing market. Comments may take up to an hour for moderation before appearing on the site. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Alibaba's Lazada appoints Chun Li as new CEO FILE PHOTO: The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, Nov. 18, 2019. Lazada has disputed those findings without providing details. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. He will also continue his current role as chief executive of Lazada Indonesia. Poignant himself replaced Lucy Peng who stepped down as CEO after nine months in 2018 although she remains executive chairwoman. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. The next issue of Top Stories Newsletter will soon be in your inbox. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Two people with knowledge of the matter said the reshuffle is due to the e-commerce firm’s middling performance. Read more about cookies here. Our Standards: The Thomson Reuters Trust Principles. The firm said in a statement that Lazada Group Chief Executive Officer and co-founder Pierre Poignant will be replaced by Chun Li, a former Alibaba executive, who is currently Lazada … All quotes delayed a minimum of 15 minutes. SINGAPORE (Reuters) - Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd (), on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee.Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Singapore-based Shopee, which is … “We introduce change to strengthen our leadership in support of our business strategy”, the spokesman said. Singapore-based Shopee, which is backed by Tencent Holdings 0700.HK, was the most downloaded e-commerce app and the most used in Southeast Asia as of end-2019, knocking Lazada to second place, according to research firm iPrice. E-commerce in Southeast Asia was worth $38 billion last year and is expected to grow rapidly, according to a study by Google, Temasek and Bain & Company. There was an error, please provide a valid email address. If you don't see it please check your junk folder. SINGAPORE — Lazada, the Southeast Asian arm of Chinese e-commerce firm Alibaba Group Holding, announced on Friday it would replace its chief executive officer. Alibaba's Lazada announces Chun Li as new CEO Back to video Reuters reported earlier on Friday that Poignant would be replaced by Chun Li, citing sources. Lazada said Poignant will now become special assistant to Alibaba Group CEO Daniel Zhang. Mr Li, who joined Alibaba Group in 2014 as chief technology officer for its B2B business unit, was appointed co-president of Lazada in June 2017 and Lazada Indonesia CEO in July last year. Alibaba has long struggled to manage Lazada, a company it owns 90% of after investing $3 billion since 2016, with employees highlighting a long-running culture clash with management from China. Chun Li will be stepping up from his position as group president at Lazada to his new post as the group chief executive in Lazada on 1st July. This advertisement has not loaded yet, but your article continues below. We apologize, but this video has failed to load. Two people with knowledge of the matter said the move is due to the e-commerce firm’s middling performance. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Please try again. The firm in a statement said Li would work to improve Lazada’s standing through data technology application and business localisation across the firm’s six markets. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Alibaba's Lazada appoints Chun Li as new CEO Back to video Reuters reported the move earlier on Friday, citing sources. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Singapore-based Shopee, which is backed by Tencent Holdings. James Sullivan, who heads Lazada Logistics, is also expected to step down, two people said. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Alibaba’s Lazada has named Chun Li as its new group chief executive officer, taking over from current CEO Pierre Poignant. Chun Li, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. SINGAPORE (Reuters) - Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd. , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. These year-end mega shopping festivals will be opportunities for brands and sellers to acquire new customers and boost their sales performance," said Lazada Group's Chief Executive Officer, Chun Li. Reporting by Keith Zhai and Fanny Potkin in Singapore; Editing by Edwina Gibbs. Lazada has struggled to fend off rivals like the Singapore-headquartered SEA’s e-commerce arm Shopee, which is backed by Alibaba rival Tencent, for control of the fast-growing market of 650 million consumers. The change was made after a middling performance from the e-commerce firm, two sources with knowledge of the matter told Reuters, declining to be identified as they were not authorised to speak to media. The Lazada spokesman said this was incorrect and LazMall was an important business for the company. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. (Reporting by Keith Zhai and Fanny Potkin in Singapore; Editing by Christian Schmollinger and Christopher Cushing). We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Group chair and CEO Daniel Zhang personalize your content ( including ads ), and allows us analyze... 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