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Thursday, June 30, 2022

Alibaba [NYSE: BABA] Announces New CFO

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Alibaba Group Holding Limited [NYSE: BABA] disclosed the appointment of the company’s new Chief Financial Officer. BABA confirmed that Toby Xu, Deputy Chief Financial Officer, will take Maggie Wu’s position as the Company’s Chief Financial Officer. The new decision will be valid from April 1, 2022.

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BABA revealed Maggie has made tremendous contributions to the company. Her efforts are the key to Alibaba’s achievement so far. She has entered Alibaba almost fifteen years ago. Since then, Maggie has already helped run three successful company public listings as CFO. These include Alibaba.com on the Hong Kong Stock Exchange in 2007, and BABA on the NYSE in 2014, and the Hong Kong Stock Exchange in 2019.

Furthermore, BABA has also confirmed that Maggie will continue as a partner in the Alibaba Partnership and work as an executive director on the Alibaba board. She has made and encouraged a finance team with professional skills and achievements unsurpassed. Moreover, she also has worked as BABA’s bedrock in chasing Alibaba’s strategies and business development.

In addition, talking about her personality Daniel Zhang, Chairman, and CEO of Alibaba Group disclosed that Maggie is always calm and unflustered, regardless of any difficulty in the global capital markets and macro environment. Maggie will utilize her deep experience to help Alibaba in new ways.

Moreover, BABA disclosed that Toby is the best choice for the position of CFO as he immediately showed his skills and leadership in response to its frequently emerging businesses. He has joined Alibaba from PwC three years ago. Toby was named Deputy Group CFO in July 2019. He took on raising obligations that have spread to include its strategic investments, in addition to financial control and operations.

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