China’s largest e-commerce group, Alibaba, appoints a new chief financial officer and reorganizes its e-commerce business amid a regulatory crackdown in the technology industry within China.
In an official statement, Alibaba announced Toby Xu will succeed long-standing CFO Maggie Wu as the new CFO from April 1, 2022. Xu joined Alibaba in 2018 from PricewaterhouseCoopers and was appointed as deputy group CFO in July 2019. Wu, who has been CFO at Alibaba since 2013, will remain in Alibaba and remain as an executive director on the company’s board. She will also continue 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.
Alibaba also announced 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 within the country, according to a post on the company’s Alizila news hub.
The International Digital Commerce unit will house Alibaba’s overseas wholesales and consumer-facing businesses, including AliExpress, Lazada, and Alibaba.com. The International Digital Commerce unit will be headed by Jiang Fan, who was the president of Tmall and Taobao marketplaces. The China Digital Commerce team will be headed by one of the founding members of Alibaba, Trudy Dai.
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