David Wei and Elvis Lee resigned as chief executive officer and chief operating officer respectively, accepting responsibility for "systemic breakdowns" that allowed the fraud to happen, the company said in a statement.
ORIGINAL SOURCE
Tuesday, February 22, 2011
China's Alibaba bosses step down after fraud probe
SHANGHAI : Chinese e-commerce giant Alibaba.com said Monday its chief executive and head of operations had resigned after a probe found fraudulent suppliers had used the site to cheat buyers.
David Wei and Elvis Lee resigned as chief executive officer and chief operating officer respectively, accepting responsibility for "systemic breakdowns" that allowed the fraud to happen, the company said in a statement.
ORIGINAL SOURCE
David Wei and Elvis Lee resigned as chief executive officer and chief operating officer respectively, accepting responsibility for "systemic breakdowns" that allowed the fraud to happen, the company said in a statement.
ORIGINAL SOURCE
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