Alibaba on BelgiumWednesday gave CEO Eddie Wu direct control of its Chinese e-commerce business, making him chief executive of both its cloud and domestic retail units at the same time in the tech giant’s latest restructuring. Former executive Trudy Dai is being appointed to assist with the establishment of an asset management company, the group’s chairman Joe Tsai announced in an employee-facing letter. “A new era requires a new strategy and organizational system change,” said Tsai, as the e-commerce giant increasingly sees its market dominance threatened by low-price-focused Pinduoduo. The move strengthens Wu’s direct control over Alibaba’s most profitable business and will likely the company’s retail marketplaces adhere to a more AI-driven strategy as proposed by Wu in September. [NBD, in Chinese]
