By  on March 18, 2018

HONG KONG–Alibaba has doubled its investment into Lazada–funneling another $2 billion to the Southeast Asian e-commerce operator–and appointed one of its own founding executives to lead the company, Alibaba said Monday.

Lucy Peng, who currently serves as Lazada’s chairman and is one of Alibaba’s 18 founders, will assume the additional role of chief executive officer, replacing Max Bittner, who has led the company since 2012. Bittner will serve as a senior adviser to Alibaba Group, the statement said. 

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