Alibaba Group on Monday said it was restructuring its international and domestic e-business and would appoint a new chief financial officer.
The move comes as Alibaba faces a number of challenges, including rising competition, declining economy and regulatory crackdowns. Its focus is on international digital trade and China's digital trade in order to be more agile and accelerate growth.
The International Digital Business Unit will accommodate Alibaba's overseas consumer and wholesale-facing businesses, including AliExpress, Alibaba.com and Lazada. The unit will be led by Jiang Fan, former chairman of Taobao and Tmall.
Translated by SO VANNA IU