Alibaba reshuffles administration; CFO oversees strategic funding unit

Attendees go by an Alibaba.com show at CES 2019 in Las Vegas.

David Becker | Getty Pictures

China’s Alibaba Group on Tuesday mentioned its chief monetary officer, Maggie Wu, will oversee the agency’s strategic acquisitions and investments unit, as a part of a enterprise and administration reshuffle on the e-commerce large.

Wu will take over from Govt Vice-Chairman Joe Tsai, who will assist Wu in her new position, Alibaba mentioned in an announcement on its official WeChat account. It didn’t elaborate additional on Tsai’s transfer.

Its grocery store division, Freshippo, will turn out to be a standalone enterprise, and enterprise software program unit DingTalk will be merged into the agency’s cloud unit, Alibaba mentioned, including that the adjustments are efficient from Tuesday.

“To guarantee innovation, invest in our future, Alibaba is undertaking an organizational upgrade,” the corporate mentioned within the assertion, signed by Chief Govt Officer Daniel Zhang.

Watch: Alibaba’s Jack Ma to step down in a single yr

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