As part of efforts to become more agile and accelerate growth, Alibaba Group Holding Ltd, has expressed plans to overhaul its international and domestic e-commerce businesses and replace its Chief Financial Officers.

The international and domestic e-commerce business will now form two units, international digital commerce which will be headed by Jiang Fan who had been in charge of its main Chinese retail market and China digital commerce which will be headed by Trudy Dai.

The international digital commerce unit will include AliExpress which sells to retail buyers, particularly in Europe and South America; its Southeast Asian e-commerce business Lazada; and Alibaba.com which is more focused on selling to overseas business customers.

The China digital commerce unit will include Alibaba’s two main marketplaces, Tmall, for established brands and Taobao, which welcomes all kinds of merchants.

Alibaba recorded a slide in its shares by 6% in the early trading hours of today, following Friday’s decline made in the United States.

Last month, Alibaba slashed its forecast for annual revenue growth to its slowest pace after been hit by weaker growth and fierce competition from rivals.

Chinese regulators have also cracked down on the tech and other sectors, particularly on the anti-trust issues that have seen Alibaba abandon a policy of requiring merchants to exclusively set up shop on its platform.

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