Zhang to head new division in Alibaba
Print Edition
ALIBABA Group Holding Ltd has appointed Jeff Zhang to oversee its main services, bringing Taobao, Tmall and Juhuasuan into a newly created “China Retail Marketplaces” division.
The appointment marks one of the highest-profile personnel shuffles since China’s largest e-commerce company went public in September. Together with the creation of the new division, the move will streamline operations and enhance efficiency.
The company, which now handles more e-commerce than Amazon.com and eBay Inc combined, has been struggling to sustain the rip-roaring pace of growth it enjoyed in past years as it gains scale.
It’s unclear how Zhang’s appointment affected Wang Yulei, who was president of the Amazon.com-like Tmall retail website. On Monday, Chinese news website sina.com reported that Wang had been dismissed from his post, though the company declined to comment on his current situation.
Alibaba’s eBay-like Taobao remains its largest retail service, often referred to as a consumer-to-consumer website because of its focus on transactions between individual or smaller buyers and sellers. Tmall was envisioned as more of a platform for brands to sell to consumers, and is growing faster than Taobao. Juhuasuan is Alibaba’s discount-retail service.
Revenue growth, at its lowest level since 2013, and margins slipped in the quarter ending in December.
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