(Yicai Global) Dec. 13 -- Lazada old hand Pierre Poignant has replaced Lucy Peng, a co-founder of Alibaba Group Holding, as chief executive of Southeast Asia's leading e-commerce operator.

Poignant, who co-founded Lazada six years ago, takes on the role with immediate effect, the Singapore-based company said in statement today. Peng will remain as board chairman after having been in the CEO's job for just nine months.

Poignant will spearhead the company's new growth and work closely with regional teams, while continuing to manage Lazada's operations in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

He has also led Lazada's logistics system since the company was set up in 2012, building a foundation for the firm's digital logistics, online tech media It.sohu.com reported. Poignant has also served as chief operating officer and executive director, managing customer service, supply chains, content production and other businesses.

Alibaba invested USD1 billion in Lazada in 2016 to become its controlling shareholder. It raised its stake to 83 percent last year for a further USD1 billion.

It will invest another USD2 billion to speed the development of Southeast Asia's e-commerce system and deepen Lazada's integration with Hangzhou-headquartered Alibaba's ecosystem, the latter announced.

Peng resigned as chairman of Alibaba's Ant Financial Services Group unit in March and joined Lazada as chairman and CEO. Her predecessor was Max Bittner, who was in the post for six years before joining Alibaba as a senior consultant to help develop the group's international strategy.

Editor: Ben Armour