Daraz Reportedly Announces New Managing Director For Bangladesh1 min read

Daraz Group, the South Asian branch of Alibaba’s e-commerce operations, reportedly announced a leadership change in its Bangladesh division. Ben (Qian) Yi has been appointed as the new managing director, succeeding Syed Mostahidal Hoq, according to the Daily Star.

Ben is transitioning from his role as the chief business officer of Lazada in the Philippines, another e-commerce subsidiary of Alibaba in Southeast Asia.
Read more: OnePlus Officially Hits Bangladesh Market

Syed Mostahidal Hoq, who has led Daraz Bangladesh since 2017, succeeded amidst a recent organizational restructuring. The change was communicated to Daraz employees at a town hall meeting. This leadership shift follows the company’s decision to lay off over 400 full-time employees in Bangladesh two and a half months ago.

Although there has been no formal announcement, the layoffs at the company were likely influenced by tough economic circumstances, a global reorganization of the business, shifting strategic focuses, and increased competition in the regional e-commerce market.

Yi’s tenure as the chief business officer at Lazada Philippines, part of Alibaba’s Southeast Asian e-commerce operations, stands out. With his deep understanding of the intricacies of emerging markets, Yi’s appointment reflects Alibaba’s strategic intent to tap into its global talent pool and share insights across its diverse e-commerce platforms.

For more updates, be with Markedium.