Dec 06, 2021 02:43 PM

Alibaba Reshuffles Finance Chief, Commerce Heads as Challenges Grow

Maggie Wu in 2014 Photo: Bloomberg
Maggie Wu in 2014 Photo: Bloomberg

(Bloomberg) — Alibaba Group Holding Ltd. is replacing its long-standing chief financial officer and reshuffling the leaders of its commerce businesses, the most notable management changes since the Chinese firm survived a bruising antitrust investigation.

Toby Xu will succeed Maggie Wu as CFO from April 1, the company said in a statement late Sunday. Wu will remain in the Alibaba Partnership and serve as executive director on the internet giant’s board, according to the statement. Separately, Alibaba is creating two Digital Commerce teams, one for international markets, led by Jiang Fan, and another for the domestic market, to be headed up by Trudy Dai, the company said in a blog post.

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