Alibaba introduced a new CFO, in the management reshuffle to divide domestic and foreign e-commerce

will succeed Maggie Wu as the company’s CFO on April 1. Wu will remain director of the board and become a member of Alibaba’s sustainable development committee The management reshuffle comes as the company navigates a new regulatory environment amid Beijing’s crackdown on the country’s tech sector. This year the company will form two new business blocks – China Digital Commerce and International Digital Commerce – to invest in domestic consumption and globalisation. China Digital Commerce combines the company’s consumer-facing and wholesale marketplaces in China and will be led by Alibaba founding member and partner Trudy Dai. Dai served as Alibaba’s chief customer officer from 2014 to 2017 The announcement of Alibaba’s CFO transition today is the culmination of extensive preparation over many years and a part of Alibaba’s leadership succession planning leading two of Alibaba’s most successful consumer marketplaces in China. In this role over the past seven years Alibaba introduced a new CFO she became president of Alibaba’s community group buying platform Taocaicai. International Digital Commerce – a division that now includes cross-border retail platform AliExpress a position he held for 11 years. He was appointed deputy CFO of Alibaba in July 2019 and also serves as a director of Sun Art Retail Group in the management reshuffle to divide domestic and foreign e-commerce among large enterprises. Alibaba Group Holding promoted Toby Xu to succeed long-standing chief financial officer Maggie Wu the Hangzhou-based company said in a statement. wholesale trading platform Alibaba.com and Southeast Asian e-commerce platform Lazada – will be led by Jiang Fan Zhang said in the letter. Closer integration of its business-to-consumer and business-to-business operations domestically is meant to help Alibaba better leverage its advantages while competing with platforms like JD.com and Pinduoduo