• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
    • FinTech Awards
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

Alibaba Stock Is Rising. The E-Commerce Giant Shook Up Management

Dec 07, 2021

Alibaba Stock Is Rising. The E-Commerce Giant Shook Up Management

Alibaba Group Holding's stock climbed on Monday after it was announced that the Chinese internet giant will be losing a long-time senior executive and that the leadership of its commerce team would be shaken up.

Maggie Wu, who was a key figure in Alibaba's (BABA) public offerings in both New York and Hong Kong, will step down as chief financial officer in April 2022, and will be followed by Toby Xu, deputy chief financial officer.

Wu has worked with Alibaba for 15 years and will continue to serve as an executive director on the group's board of directors, according to a statement released by the firm on Monday. Xu joined Alibaba in 2018 and has been Wu's deputy since 2019. He was formerly a partner at PricewaterhouseCoopers, one of the Big Four accounting firms.

"We are focused on the long term, and succession within our management team is always in the service of ensuring Alibaba is stronger and better positioned for the future," said Alibaba's chair and CEO, Daniel Zhang.

"The markets will always have ups and downs," Wu noted, "but Alibaba has big long-term aspirations." We're in a relay race, and new generations of skill are needed to propel the organization ahead."

On Monday, Citigroup's management stated that while the transition was not unexpected in the end, the timing was.

"We anticipated Mr. Xu to eventually succeed Ms. Wu as Group CFO," Citi analyst Alice Yap said. "We assumed any planned changeover may come a bit later, on signals of a growth re-acceleration or/and when the macro/external situation had stabilized, given a sequence of headline news over the last year," she says.

Separately, Alibaba stated on Monday in a blog post that it will restructure its commerce business by developing two new digital commerce divisions, one for foreign markets and the other for local markets.

The reorganization news made Citi's Yap smile, with the goal of "creating a more adaptable organizational structure amid a dynamic competitive landscape and growing business possibilities."

Alibaba's two strategic growth pillars are domestic consumption and internationalization, with technology innovation serving as a third motor, according to Yap. According to Yap, the merger would mix wholesale and retail, which "makes sense for Alibaba... as does splitting the local and foreign leadership teams given the firms' varied growth characteristics."

Alibaba's management shuffle comes at a time when the e-commerce behemoth is in upheaval. In China, the firm continues to suffer regulatory challenges, and investors have lately soured on its shares after quarterly reports revealed sluggish growth.

The stock's most recent headwind stems from larger fears that U.S.-listed Chinese businesses may be compelled to drop their New York listings in the future due to a difficult regulatory environment on both sides of the Pacific.

After being targeted by China's cybersecurity authority over data-security concerns, Didi Global (DIDI) revealed intentions to delist from the New York Stock Exchange and prepare to go public in Hong Kong only months after its IPO.

Alibaba's Hong Kong stock (9988.Hong Kong) fell 5.6 percent on Monday, while its US-listed shares rose 6.3 percent after falling 8.2 percent on Friday. Alibaba shareholders have had a tough year: the company's stock has dropped more than 50% this year and more than 30% in the last month alone, trading at their lowest levels in New York since spring 2017.

Subscribe Our Newsletter

Oil Prices Are Slipping Again. Expect Volatility In Crude
Oil Prices Are Slipping Again. Expect Volatility In Crude

The sharp drop in prices on Wednesday was fueled by hope about a diplomatic solution to the Ukraine crisis. The United Arab Emirates appeared to have urged OPEC+ to raise production, leading to accelerated declines.

Banks and Finance
Morning Brief: From Sugar Rush to JPMorgan Russian Bond Payments
Morning Brief: From Sugar Rush to JPMorgan Russian Bond Payments

Annual inflation in Russia hit its highest level since late 2015 on March 11, and sugar prices increased 12.8 percent in the past week, according to figures released Wednesday by the statistics service Rosstat.The authorities have stated that there is no reason to rush to purchase food goods.

Banks and Finance
Liquidity Provider

Top 6 Forex License Providers
Forex brokers are quite popular in the market today, but without a forex license, broker organizations are not legally permitted to conduct traders' transactions.

discover
Top 5 Most Prospective Tokens in the Metaverse.

Constantine

Top 5 Most Prospective Tokens in the Metaverse.

Over the past 20 years, information technology has determined the development vector of the main spheres of society: economic, political, spiritual, and social.

Fintech

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Alexander

    Full Bitcoin Price History: From 2009 to 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-11-300x203.png

    Constantine

    Top 5 Most Reliable KYC Technology Providers

    https://liquidity-provider.com/app/uploads/2023/01/cover-10-300x203.png

    Alexander

    The Best Crypto Wallets of 2022: Top 5 Picks

    https://liquidity-provider.com/app/uploads/2023/01/cover-2-300x203.png

    Alexander

    Top 5 Most Reliable Forex Brokers of 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-1-300x203.png

    Constantine

    5 Top-Tier Breakthrough Trading, Crypto and Fintech Industries Software Solutions in 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-300x203.png

    Constantine

    5 Most Successful FinTech Industry Startups in 2022

    https://liquidity-provider.com/app/uploads/2022/12/cover-300x203.png

    Constantine

    Top 7 Liquidity Providers of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-3-300x203.png

    Alexander

    Top 5 Crypto Exchanges of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-1-300x203.png

    Constantine

    Top 5 Most Distinguished White Label Solutions in 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-2-300x203.png

    Constantine

    What is Crypto Leverage Trading And How Does It Work?

    https://liquidity-provider.com/app/uploads/2022/12/oblozhka-5-300x203.png

    Constantine

    Top 5 Most Prospective Tokens in the Metaverse.

    https://liquidity-provider.com/app/uploads/2022/12/cover-7-300x203.png

    Constantine

    How to Mine Bitcoins? – Beginners Guide

    https://liquidity-provider.com/app/uploads/2022/11/cover-5-300x203.png

    Oliver

    Blockchain for Business. Pros & Cons

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-1-300x203.png

    Constantine

    The Future of Stablecoins and Central Bank Digital Currencies (CBDCs)

    https://liquidity-provider.com/app/uploads/2022/11/cover-3-300x203.png

    Alexander

    What is Web 3.0 and Why Does it Matter?

    https://liquidity-provider.com/app/uploads/2022/11/cover-1-300x203.png

    Constantine

    5 Benefits of Accepting Crypto Payments for Your Business

    https://liquidity-provider.com/app/uploads/2022/11/cover-300x203.png

    Constantine

    Hot Wallet vs Cold Wallet: Which Do I Need More for Crypto?

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-5-300x203.png

    Alexander

    What is Hedging and How Does it Work in Trading? — Ultimate Guide

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-4-300x203.png

    Oliver

    Pre-execution vs Post-execution: What’s the Difference?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-1-300x203.png

    Constantine

    What is Slippage in Trading? – Definition

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-1-300x203.png

    Oliver

    How Forex Brokers Make Money? – A-Book vs. B-Book Model

    https://liquidity-provider.com/app/uploads/2022/10/shapka-2-300x203.png

    Oliver

    What is the Ethereum Merge, And How Will it Change Ethereum?

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-300x203.png

    Alexander

    How to Spot Cryptocurrency Scams

    https://liquidity-provider.com/app/uploads/2022/10/shapka-300x203.png

    Milena

    Exploring the Metaverse: What Does It Mean for the Future of the Internet?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-300x203.png
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2023 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy