The story appears on

Page A8

December 7, 2021

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business

New CFO appointed at Alibaba

China’s largest e-commerce group, Alibaba, said yesterday it is appointing a new chief financial officer and reorganizing its e-commerce businesses amid a regulatory crackdown in the technology industry.

The company said in a statement Toby Xu will succeed Maggie Wu as its new CFO from April 1. Xu joined Alibaba from PricewaterhouseCoopers three years ago and was appointed deputy group CFO in July 2019.

Wu, who has been Alibaba’s CFO since 2013 and has helped lead three Alibaba-related company listings, will continue to serve as an executive director on Alibaba’s board.

She will also remain as a partner in the Alibaba Partnership — a group of senior executives who have the right to nominate a simple majority of Alibaba’s board of directors.

“We are focused on the long-term, and succession within our management team on every occasion is always in the service of ensuring Alibaba will be stronger and better positioned for the future,” said Daniel Zhang, chairman and CEO of Alibaba Group.

Alibaba also said that it would be creating an International Digital Commerce team to handle its e-commerce businesses in international markets. A China Digital Commerce team will be in charge of e-commerce operations inside China, according to a post on the company’s Alizila news hub.

The international and domestic digital commerce teams will be led by executives Jiang Fan and Trudy Dai respectively. Jiang has been in charge of Taobao and Tmall, Alibaba’s core e-commerce sites in China. Dai was the chief customer officer.

The Hangzhou-based firm was fined a record US$2.8 billion for antitrust violations as part of the crackdown.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend