Alibaba Group Announces CFO Succession
Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) today announced that Toby Xu, Deputy Chief Financial Officer, will succeed Maggie Wu as the Company’s Chief Financial Officer, effective April 1, 2022. Maggie will continue as a partner in the Alibaba Partnership and serve as an executive director on the Alibaba board.
“Maggie has made exceptional contributions that are instrumental to Alibaba’s achievements to date. Since joining Alibaba almost fifteen years ago, Maggie has helped lead three successful company public listings as CFO: Alibaba.com on the Hong Kong Stock Exchange in 2007, and Alibaba Group Holding on the New York Stock Exchange in 2014 and on the Hong Kong Stock Exchange in 2019. She has built and nurtured a finance team with professional capabilities and accomplishments second to none, and has served as our bedrock in pursuing Alibaba’s strategies and business development. Maggie is forever calm and unflappable, regardless of ups and downs in the global capital markets and macro environment. She is humble and resilient, and has been my irreplaceable and closest partner over the years,” said Daniel Zhang, Chairman and CEO of Alibaba Group. “Going forward, Maggie will leverage her deep experience to support Alibaba in new ways. We will continue to benefit from her guidance and insights in her continued role as an Alibaba board director.”
“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,” said Zhang. “Toby joined Alibaba from PwC three years ago and was appointed Deputy Group CFO in July 2019. He swiftly demonstrated his solid capabilities and leadership in response to our continually evolving businesses. He took on increasing responsibilities that grew to include our strategic investments, in addition to financial management and operations. We are certain that Toby is the right person to serve as our new Group CFO and, together with the core management team, will help lead our team towards our next success.”
“The announcement of Alibaba’s CFO transition today is the culmination of extensive preparation over many years and a part of Alibaba’s leadership succession planning. The markets will always have ups and downs, but Alibaba has ambitious long-term goals. We are in a relay race and we must have new generations of talent to take the company forward. I trust Toby even more than I trusted myself when I first took up the CFO position years ago. I am confident that Toby – through his professional capabilities and leadership skills, and together with Daniel and the core management team – will successfully lead our team into the future,” said Maggie Wu, Chief Financial Officer of Alibaba Group.
Toby joined Alibaba in July 2018 and was appointed Deputy Chief Financial Officer in July 2019. Before joining Alibaba Group, Toby was a partner at PricewaterhouseCoopers for 11 years, where he joined in 1996. He serves as a director of Sun Art Retail Group, Lianhua Supermarket Holdings and Red Star Macalline Group. Toby graduated from Fudan University in Shanghai, China, with a bachelor’s degree in Physics in 1996. He is a member of the Chinese Institute of Certified Public Accountants.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Westmount Realty Capital Recapitalizes 6.1 Million Square-Foot Industrial Portfolio in Chicago and Milwaukee26.1.2022 19:33:00 CET | Press release
Westmount Realty Capital, a privately held, Dallas-based commercial real estate company announced today that it is partnering with a fund managed by the Real Estate Group of Ares Management Corporation, a leading global alternative investment manager, to recapitalize a 51-asset industrial portfolio totaling 6.1 million square feet located in established industrial submarkets of Chicago and Milwaukee. Westmount and Ares acquired the institutional-quality portfolio of logistics, bulk distribution, and last-mile industrial properties from a Partners Group Westmount joint venture. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220126005816/en/ Westmount Realty Capital and Ares Management Corporation recapitalized and acquired an institutional-quality portfolio of logistics, bulk distribution, and last-mile industrial properties totaling 6.1 million square feet located in established industrial submarkets of Chicago and Milwaukee
artnet AG: Artnet Joins New Deutsche Börse ESG Visibility Hub26.1.2022 18:25:00 CET | Press release
Artnet AG, the leading platform for art market data and media, and the global marketplace for fine art online-only sales, is pleased to announce that it has joined the new Deutsche Börse ESG Visibility Hub. Investors increasingly expect transparency from companies with regard to sustainability. A high level of disclosure and comprehensible reporting enables ESG-related data (ESG translates to Environment, Society, Governance) to be included in investment decisions - with the aim of lowering the risks and positive impact of an investment. Artnet AG has been a pioneer within the art market for over 30 years. By engaging with ESG reporting and initiatives, Artnet continues its ethos of spearheading positive change and sustainable business practices. Artnet strives to continuously offer an environment where its employees, customers, and stakeholders can do what they love in a sustainable way. Furthermore, Artnet values its role in assisting clients in engaging with fine art and collectible
VitreaLab, Quantopticon, Luminess Win Big at SPIE Startup Challenge26.1.2022 17:35:00 CET | Press release
Yesterday, at a ceremony during SPIE Photonics West, VitreaLab, with its laser-lit chip focused on the 2D and 3D display market – a technology which enables more power-efficient displays – was announced the winner of the $10,000 top prize at the 12th annual SPIE Startup Challenge. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220126005652/en/ Jonas Zeuner of VitreaLab, center, is joined onstage by Jenoptik's Song Yop Chung, left, and Ralf Kuschnereit, right. (Photo: Business Wire) With cash prizes all provided by Jenoptik, Quantopticon, a designer of simulation software for quantum photonic hardware manufacturers, received $5,000 for second place. Luminess came in third, winning $2,500, with their versatile platform for safer, more sensitive, and more reliable X-ray medical imaging. The SPIE Startup Challenge, which showcases new businesses, products, and technologies that address critical needs with photonics, is supported
ABO - Óskare Capital: Partnership Announcement26.1.2022 15:30:00 CET | Press release
Alpha Blue Ocean (ABO) and Óskare Capital are announcing today the formation of a strategic partnership to collaborate on investment opportunities associated with cannabis plant-based medicines as well as synthetic molecules that target the mammalian Endocannabinoid system (ECS). Both companies recognize that there are also investment opportunities related to products, infrastructure technologies and services which will be part of the associated ecosystem for this sector. With a strong focus in Europe, the teams will work together to identify those companies with the greatest potential to enter global markets. This sector is nascent in Europe and is still in early stages of development on the pharmaceutical side; both companies see this as a “blue ocean” opportunity as the market emerges in the years to come. The partnership is based on biotech, agtech, and life science expertise; track records in the European VC; and strong access to deal flow, all of which will enable the partnership
Staffmark Group Leverages Rimini Street Support for Oracle PeopleSoft Powering Payroll for 35,000 Employees a Week26.1.2022 15:00:00 CET | Press release
Rimini Street, Inc. (NASDAQ: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Staffmark Group, an award-winning staffing and recruitment firm, continues to leverage Rimini Street to support the company’s PeopleSoft system environment support and maintenance. Since making the switch to Rimini Street, Staffmark has significantly improved the quality, responsiveness and depth of PeopleSoft support available to its internal IT team, enabled faster tax, legal and regulatory updates, and plans to reinvest support cost savings in service offering innovation and enhancements such as AI analysis capabilities and automated job posting functionality for employers and jobseekers – a vital part of its competitive market strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220126005280/en/
Covetrus Taps César França as President, Global Proprietary Brands26.1.2022 15:00:00 CET | Press release
Covetrus® (NASDAQ: CVET), a global leader in animal-health technology and services, today announced the appointment of César França as President, Global Proprietary Brands. França will lead the companywide development and management of Covetrus’ global proprietary brand portfolio, including the current Covetrus, Kruuse, Vi, Roadrunner Pharmacy, and Calibra brands. The company will rely on his vision and expertise to develop categories, build strategic partnerships, and identify external growth opportunities. França brings more than 25 years of leadership and experience in brand development and management, marketing, sales, business development, and general management to Covetrus. “We’re delighted to welcome César to this new and dynamic role,” said Matt Malenfant, Chief Commercial Officer at Covetrus. “César is a positive, trusted leader with a foundational belief in the power of people and brands. He will work closely with our commercial and operations teams to ensure effectiveness an
Tinubu Square Appoints Aurelien Pelletier as Chief Product & Technology Officer26.1.2022 14:00:00 CET | Press release
Tinubu Square, a proven SaaS solutions editor and a leader in enabling Credit Insurance & Surety digital transformation, is expanding. To sustain its current growth, Tinubu recently made acquisitions, onboarded new technologies and is equipping itself with the capabilities to achieve its ambitions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220126005498/en/ Tinubu Square - Aurelien PELLETIER - CPTO This is reflected in the investments made in its products, but also in the evolution of its organization, such as the arrival of Aurélien Pelletier as Chief Product & Technology Officer, a recognized specialist in cutting-edge digital technology. His role will be to accelerate Tinubu’s progression as a high-performance "software factory" and drive its products' evolution toward an end-to-end technological platform, a "Digital Highway" for our Credit Insurance & Surety customers connecting their entire ecosystem. Tinubu’s endea