Mar 19, 2024 02:41 PM

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Daily Tech Roundup: Alibaba Signals Possible Sale of Grocery Unit

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Snacks sit on display on Nov. 27 at a Freshhippo store in Hangzhou, East China’s Zhejiang province. Photo: VCG

Snacks sit on display on Nov. 27 at a Freshhippo store in Hangzhou, East China’s Zhejiang province. Photo: VCG

Welcome to the Daily Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia.

Alibaba signals possible sale of grocery unit with leadership shake-up

Alibaba Group Holding Ltd. has appointed a new head of its grocery arm Freshippo, raising speculation about the future direction of the retail unit. Hou Yi, Freshippo’s founder, will be replaced as CEO by Yan Xiaolei, the current chief financial officer. Hou, 60, will retire but serve as chief adviser to the company, Alibaba CEO Wu Yongming announced in a letter to employees Monday.

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