, China

Alibaba Group picks Toby Xu as new chief financial officer

The outgoing CFO Maggie Wu will serve as an executive director of the board.

Alibaba Group has appointed Toby Xu, the company’s deputy chief financial officer, to succeed Maggie Wu as the chief financial officer (CFO) starting 1 April, the company announced in a news release.

Xu joined Alibaba from PricewaterhouseCoopers (PwC) in 2018 and was appointed Deputy Group CFO in July 2019. His responsibilities grew to include Alibaba’s strategic investments, in addition to financial management and operations.

He serves as a director of Sun Art Retail Group, Lianhua Supermarket and Red Star Macalline Group. He graduated from Fudan University in Shanghai, China, with a bachelor’s degree in Physics in 1996, and is a member of the Chinese Institute of Certified Public Accountants.

The transition is the culmination of extensive preparation over many years and a part of Alibaba’s leadership succession planning, the company said.

Wu will continue as a partner and serve as an executive director on the Alibaba board.


Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Tailor-fitting retail stores to catch up on the digitisation race
Retailers would need over 200 hours to manually digitise their products, but Fairmart claims this could be trimmed down to zero.