Alibaba said it would form two new units to house its main e-commerce businesses — international digital commerce and China digital commerce — in a bid to become more agile and accelerate growth.
The international digital commerce unit will house Alibaba's overseas consumer-facing and wholesale businesses, and include AliExpress, Alibaba.com, and Lazada. The unit will be headed by Jiang Fan, formerly president of the Taobao and Tmall.com marketplaces. Alibaba will house its domestic commerce businesses in the China digital commerce unit which will be led by Trudy Dai, a founding member of Alibaba, it said.
The company's deputy chief financial officer, Toby Xu, will succeed Maggie Wu as the company's chief financial officer from April, it said, describing his appointment as part of the company's leadership succession plan.Wu, who helped lead three Alibaba-related company public listings as CFO, will continue to serve as an executive director on Alibaba's board.
The e-commerce giant's Hong Kong-listed shares slid 8% in early morning trading, tracking Friday declines made in the United States.
Just boucott Chinese stonks 🤣
阿里巴巴全面改革电子商务业务，任命新首席财务官，因其在多个方面面临阻力
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