04:18 PM EDT, 03/18/2024 (MT Newswires) -- Alibaba Group Holding ( BABA ) appointed Yan Xiaolei as the head of its grocery business Freshippo, succeeding Hou Yi, who will retire, according to media reports on Monday.

Yan is currently the chief financial officer of Freshippo. Hou will continue to serve as an adviser, Bloomberg reported.

Alibaba ( BABA ) did not immediately respond to a request for comment by MT Newswires.

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