Alibaba Shakes Up Freshippo Leadership, Signaling Potential Sale

By Bao Yunhong, Sun Yanyan and Denise Jia

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A Freshippo outlet in Zhengzhou, Henan province.

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 chief executive officer 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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