(Bloomberg) -- Lazada Group Chief Executive Officer Lucy Peng will step down and cede her role to Pierre Poignant, a six-year veteran of the leading Southeast Asian e-commerce operator.
Peng, a co-founder of Lazada's controlling shareholder Alibaba Group Holding Ltd., will remain executive chairman, the Singapore-based company said in a statement Thursday. Poignant, who joined Rocket Internet-incubated Lazada in 2012, will immediately take the CEO role.
Poignant's appointment comes nine months after Alibaba installed Peng as CEO to replace Maximilian Bittner. The Chinese e-commerce behemoth had put in another $2 billion this year to deepen its bet on Southeast Asia. Poignant, 39, has held several roles during his six-year stint at Lazada, including expanding logistics as chief operating officer. Lazada has 31 warehouses in six countries.
“The job is not new to me,” Poignant said in an interview. “We are in a very diverse region, in six countries with vastly different consumer base, vastly different landscape. The solution is different in each of these markets.”
Read more about Alibaba's investment in Lazada.
Poignant, who was appointed to Lazada's newly created executive president post in August, brushed aside speculations about internal issues that might have led to the management shuffle.
“Obviously when you bring the two companies with strong cultures together and draw the road map for the next three to five years, people can share their ideas and debate, which is quite natural,” he said. “I'm very confident that we have the right team and the right strategy for the future.”
Under Peng, Alibaba and its Southeast Asian subsidiary Lazada worked on integrating their platforms and rolled out a set of new features. For example, Lazada customers can now snap a picture of any product they wish to buy using the app. And it'll instantly show a list of similar items and their prices, which is powered by Alibaba's search-by-image.
To contact the reporter on this story: Yoolim Lee in Singapore at yoolim@bloomberg.net
To contact the editors responsible for this story: Robert Fenner at rfenner@bloomberg.net, Reed Stevenson, Edwin Chan
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