Alibaba Group Holdings Ltd is planning to reorganize its international and domestic e-commerce business and will be appointing a new Chief Financial officer.
These changes are visible owing to the fact that the Chinese company Alibaba faced a crosswind on multiple fronts such as increased competition, slow economic growth, and a regulatory crackdown.
According to Reuters, Alibaba will form new units – International digital growth and Chinese digital growth, which is a part of its effort to make it more agile and accelerate the growth of the company.
The international digital commerce will house Alibaba’s overseas consumer-facing and wholesale business, including AliExpress, Alibaba.com, and Lazada, and the company will house its digital commerce business which will be led by Trudy Dai, a founding member of Alibaba. Last month, the company slashed its forecast for annual revenue growth since the 2014 stock market and saw sales at its banner event, online shopping festival Singles Day, grow at the slowest rate.