Alibaba changes its CFO and presents new strategies

Alibaba Group He is preparing to end 2021 with changes in his team and his strategy. Maggie Wu will take over as CEO to leave CFO to Toby Xu.

Wu He has worked for Alibaba for almost fifteen years and has run three publicly traded companies such as CFO: on the Hong Kong Stock Exchange in 2007, and Alibaba Group Holding on the New York Stock Exchange in 2014 and the Hong Kong Stock Exchange. in 2019. Daniel Zhang, President and CEO of Alibaba Group has had a few words for her: “Maggie is always calm and unflappable, regardless of the ups and downs of the global capital markets and the macro environment. She is humble and resilient, and has been my closest and irreplaceable companion throughout the years.“.

As explained in the statement, the change in financial management has been in the works for many years: “We are focused on the long term, and succession within our management team at all times is always at the service of ensuring that Alibaba is stronger and better positioned for the future.“, He said Zhang.

“We are in a relay race and we must trust new generations of talent to take the company forward”

Maggie wu

Xu was previously working at one of the Big Four accounting firms, PricandwaterhouseCoopers (PwC), three years ago and was appointed deputy chief financial officer of the group in July 2019. He assumed increasing responsibilities that grew to include Alibaba’s strategic investments, as well as financial management and operations.

Alibaba changes its organizational structure to accelerate domestic and international growth

Alibaba Group announced organizational changes to better drive synergies between its wholesale and consumer platforms both in China and globally. The person in charge of presenting all the changes has been the president of the company through a statement to the employees.

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In the letter, Zhang explained that the International Digital Commerce that includes AliExpress, and Lazada, will be led by Jiang Fan. In its latest quarterly earnings, the company announced that its annual active consumers (AAC) abroad reached 285 million and reiterated its ambitious goal of serving 2 billion consumers worldwide.

We believe that foreign markets present many exciting opportunities and potentials that we can take advantage of.Zhang wrote in his letter.

While Trudy dai, one of the company’s veterans, will lead the China’s new digital trade combining Alibaba’s wholesale and consumer markets in China. He has a wealth of experience in the Chinese consumer sector, a deep understanding of consumer needs, and a deep understanding of the Alibaba ecosystem. Between 2014 and 2017, Dai was Alibaba’s Director of Customer Service, and prior to that, he led different business units and critical corporate functions.

As we continue to build a multi-engine approach to driving future growth, ‘diversified corporate governance’ will become Alibaba’s new organizational strategy as we look to the future.“, wrote Zhang in his letter. “We want to explore new approaches to corporate governance to drive more innovation and creativity in our teams and companies.”.

According to the letter, the new organizational announcement is Alibaba’s latest initiative to “empower [su] organization to be more agile ”as the company looks to the new year.

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