RTR: Alibaba demotes top executive after probe into behaviour – source

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REUTERS reports:

Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) has demoted Jiang Fan, one of its most senior executives, after an internal investigation into allegations of improper behaviour, according to a person familiar with the matter.

Alibaba removed Jiang, who oversaw the company’s main online shopping divisions, from a partnership of 38 people, which appoints some Alibaba board members. It also demoted him to group vice president from group senior vice president, said the person, who asked not to be identified discussing internal matters.

Alibaba declined to make Jiang available for interview and he did not respond to a Reuters request for comment.

The decision follows speculation on Chinese social media about Jiang’s relationship with a prominent social media influencer, Zhang Dayi, and whether he had used his influence at Alibaba to ensure preferential treatment to merchants associated with Ruhnn Holding Ltd (RUHN.O), an e-commerce company where Zhang serves as Chief Marketing Officer.