Alibaba presented a new Financial CEO on Monday and at the same time announced a reorganization of its e-commerce activities.
Toby Xu will succeed Maggie Wu as of April 1st next year. Wu has been CFO at the tech giant since 2013 and is co-responsible for three Alibaba stock quotes. Wu remains a member of the board.
Last Friday, the Chinese taxi service Didi announced, under pressure from the Chinese authorities, that it will close its listing in New York after six months.
Alibaba also reported that it will reorganize its e-commerce activities and form two divisions, one focused on China and one international.