Alibaba Group overhauls e-commerce businesses, names Toby Xu new CFO

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

Alibaba Group Holding Ltd 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.

Alibaba said it would form two new units to house its main e-commerce businesses - international digital commerce and China digital...read more

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