Alibaba overhauls e-commerce businesses, appoints new CFO

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The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang

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Dec 6 (Reuters) – Alibaba Group Holding Ltd (9988.HK) said on Monday it was reorganising its international and domestic e-commerce businesses and would appoint a new chief financial officer.

The changes come as Alibaba faces headwinds on multiple fronts, including increased competition, a slowing economy and a regulatory crackdown.

The e-commerce giant’s Hong Kong-listed shares slid 8% in early morning trade.

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Alibaba said it would form two new units to house its main e-commerce businesses – international digital commerce and China digital commerce, in a bid to become more agile and accelerate growth.

The international digital commerce unit will house Alibaba’s overseas consumer-facing and wholesale businesses, and include…

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