Alibaba appoints new CFO, reshuffles e-commerce businesses

Published December 5, 2021 10:30 pm

By ZEN SOO
AP Business Writer

HONG KONG (AP) — China’s largest e-commerce group Alibaba said Monday 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 Monday that Toby Xu will succeed Maggie Wu as its new CFO from April 1, 2022. Wu has been Alibaba’s CFO since 2013 and helped lead three Alibaba-related share company listings. She will remain as an executive director on Alibaba’s board and an Alibaba partner. Alibaba also said it will reorganize its e-commerce business to form separate international and domestic digital commerce teams.

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