Leading Chinese online retailer Alibaba Group Holding Ltd (BABA) announced that it will be restructuring the top management of its domestic and international e-commerce business, among the changes include naming a new chief financial officer.
The company has named Toby Xu, as its new CFO and he will be the office staring April next year. Alibaba says this appointment is part of its leadership succession plan. Xu will be taking over from the current CFO, Maggie Wu.
Other changes include forming two new units namely; International Digital Commerce and China Digital Commerce. The company says these units comes as part of its wider plans of becoming more agile and speeding its growth rate.
The International Digital Commerce will include AliExpress which sells to retail buyers more specifically South America and Europe, Albaba.com which specializes on selling to overseas business customers and Lazada the company’s Southeast Asian e-commerce business.
The International unit will be headed by Jiang Fan, who has previously served as the company’s head of its main Chinese marketplaces. The unit will be aiming at cloud computing, domestic consumer and focusing on globalization.
The China Digital Commerce Unit will comprise of the company’s two main marketplaces; Tmall for established businesses and Taobao which includes all types of merchants. Trudy Dai, will be in charge of this unit.