Skip to content

Alibaba Reshuffles CFO, Commerce Heads as Challenges Grow

  • Toby Xu will take over from Maggie Wu as CFO of internet firm
  • Alibaba was a high-profile target of Beijing’s tech crackdown
Bloomberg business news
WATCH: Chinese e-commerce giant Alibaba is replacing its CFO and reshuffling the leaders of its commerce businesses. Shiyin Chen reports.Source: Bloomberg
Updated on

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