Alibaba overhauls e-commerce businesses

Major changes: The Alibaba building in Beijing. The e-commerce giant is replacing its CFO and restructuring its business as the company weathers a multifaceted crackdown on the industry. — AP

SHANGHAI: Alibaba Group Holding Ltd said it will reorganise its international and domestic e-commerce businesses and replace its chief financial officer – changes that come as the tech giant grapples with an onslaught of competition, a slowing economy and a regulatory crackdown.

It will form two new units – international digital commerce and China digital commerce which it said was part of efforts to become more agile and accelerate growth.