Alibaba is reassigning roles to four of its executives in reshuffles, the company announced on Monday morning. Maggie Wu, the e-commerce titan’s former chief financial officer, will step down next April and be replaced by Toby Xu, current deputy CFO. Wu will continue to be a partner in Alibaba Partnership, an exclusive group of personnel with major influence on the company’s directions, and will remain as an executive director on the Alibaba board.
Alibaba Group Holding Limited, also known as Alibaba Group and Alibaba.com, is a Chinese multinational technology conglomerate that specialises in e-commerce, retail, the Internet, and technology. When Jack Ma handed over the CEO reins to Daniel Zhang in 2015, and then appointed him chairman in 2019, Alibaba underwent a major reorganisation. Trudy Dai will lead the firm's domestic consumer-oriented and wholesale marketplaces, which will be merged to form the new China Digital Commerce unit. Dai has been at the helm of two of Alibaba's new growth engines: Taobao Deals, a bazaar aimed at lower-income Chinese consumers, and Taocaicai, a neighbourhood grocery service.