Hu Xiaolai is the new CEO of Tmall, China’s largest online shopping mall. Hu joined Tmall from its largest rival JD.com in 2017, where he built a technology and operations team to support the company’s growth in China source http://businesskos.com/tmall-new-ceo-whats-his-strategy/
Alibaba new e-Commerce strategy
Alibaba Group Holding Ltd has announced that it will revamp its international and domestic e-commerce businesses and replace its chief financial officer - changes that come as the tech giant grapples with an onslaught from competition, a slowdown in economy and regulatory repression.
He will form two new units – International Digital Commerce and China Digital Commerce which he says are part of efforts to become more agile and accelerate growth.
It will be led by Jiang Fan, who was in charge of its core Chinese retail markets, and the change is in line with Alibaba's goal of making "globalization" a key focus area in addition to cloud computing and national consumer spending.
Marketplace & Tmall
The digital commerce unit in China will include Alibaba's two main marketplaces, Tmall http://tmall.com/ for established brands and Taobao which welcomes all kinds of merchants. It will be led by Trudy Dai, who previously oversaw a number of Alibaba platforms.
The new national e-commerce structure puts Dai in charge of all retail marketplaces in China, including Taocaicai – its community-based e-commerce service, Taobao Deals as well as Lingshoutong, a retail management platform for mom and pop stores. pop, said the 86research.com analyst. Xiaoyan Wang.
“This could potentially unlock more synergies through cross-selling and supply chain integration,” she said.
Alibaba also announced that deputy chief financial officer Toby Xu will succeed Maggie Wu as chief financial officer from April, outlining his appointment as part of the company's leadership succession plan. Xu joined Alibaba from PWC three years ago.
Hong Kong-listed shares of the e-commerce giant fell 6% in early morning trading, following Friday's declines in the United States.
U.S.-listed shares of Chinese companies tumbled on concerns over tighter regulatory scrutiny in the country following plans by Didi Global Inc to delist from the New York Stock Exchange.
Hit by weaker economic growth and fierce competition from a plethora of rivals, Alibaba last month slashed its forecast for annual revenue growth to its slowest pace since its stock market debut in 2014. It also saw sales at its banner event, Singles Day online shopping festival, grow at their slowest pace.
Chinese regulators have also cracked down on tech and other sectors, particularly over antitrust issues which have seen Alibaba drop a policy requiring merchants to locate exclusively on its platforms. The company was fined a record 18 billion yuan ($2.8 billion) in April for abusing its dominant market position.