Alibaba promotes Toby Xu to chief financial officer role
Chinese ecommerce giant Alibaba Group has announced that Toby Xu, its deputy chief financial officer, will succeed Maggie Wu as the company’s chief financial officer from April.
The move is part of the company’s leadership succession plan.
Following Xu’s promotion, Wu will continue as a partner in the Alibaba Partnership and serve as an executive director on the Alibaba board.
Xu joined Alibaba in 2018 and was appointed deputy chief financial officer in 2019. Prior to that, he was a partner at PricewaterhouseCoopers for 11 years. He currently serves as a director of Sun Art Retail Group, Lianhua Supermarket Holdings and Red Star Macalline Group.
Daniel Zhang, chairman and chief executive of Alibaba Group, said: “We are focused on the long-term, and succession within our management team on every occasion is always in the service of ensuring Alibaba will be stronger and better positioned for the future.
“We are certain that Toby is the right person to serve as our new group chief financial officer and, together with the core management team, will help lead our team towards our next success.”
