Alibaba Names Proven Leader As New Lazada Chief

Alibaba Group Holding Limited BABA replaced Lazada Group CEO Chun Li with the head of its Thailand business, signifying brewing competition in Southeast Asia, Bloomberg reports.
Lazada's new leader James Dong was also a one-time business assistant to Alibaba CEO Daniel Zhang before joining Lazada as its CEO for Thailand in 2018.
In 2019, Dong assumed the additional role of CEO for Vietnam, helping cope with rising orders at the pandemic's peak.
Also Read: Here's Why Alibaba Dumped Its Fundraising Plans
Lazada's orders quadrupled year on year between June and August of 2021, as per Bloomberg.
The number of shoppers on Lazada Vietnam doubled in the third quarter of the 2021 year on year, while its mall offering recorded its highest revenue as the growth rate quadrupled. Kaya Qin succeeded Dong as Vietnam's head since then. Dong continued as CEO of Thailand, where he led the launch of a new social commerce platform.
Li will serve as an adviser to Lazada Group Chair Jiang Fan and remain on the board after two years as Lazada Group CEO.
Lazada is amid intensifying competition with Sea Limited's SE Shopee, spreading in Latin America, and Tokopedia, part of GoTo Group.
Lazada previously underwent organizational head restructuring to drive growth.
Price Action: BABA shares traded lower by 1.23% at $96.30 premarket on the last check Friday.