Alibaba puts CFO in charge of investment in major management reshuffle

BEIJING/SHANGHAI - China’s Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus in the face of slowing growth.

Chief Financial Officer Maggie Wu will oversee Alibaba’s strategic investments unit, taking over that responsibility from Executive Vice-Chairman Joe Tsai who will support Wu in her expanded role, the firm said on its official WeChat account. Reuters reported last month that the firm is considering raising as much as $20 billion through a listing in Hong Kong to boost funds available for investment.

Duncan Clark, author of “Alibaba: The House that Jack Built,” said Ma’s pending resignation made it natural for observers to question Tsai’s future at the company.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alibaba reshuffles management; CFO Wu to oversee strategic investment unitChina's Alibaba Group Holding Ltd on Tuesday said its chief financial offic...
Source: Reuters - 🏆 2. / 97 Read more »

A Boeing executive reportedly said the company is open to a new name for the embattled 737 Max, which remains grounded worldwide after 2 deadly crashes“We’re committed to doing what we need to do to restore it. If that means changing the brand to restore it, then we’ll address that,' Boeing's CFO said. How bout the Boeing “737 death tube” Old wine new label? BoeingAirplanes 'Retired'
Source: BusinessInsider - 🏆 729. / 51 Read more »