China Sourcing Firm Adds New Chiefs

Following the recent change of its chief executive officer, Chinese e-commerce group Alibaba has now announced new executive appointments.

According to the group, Cai Chongxin, former chief financial officer of Alibaba Group, will be new executive vice chairman of the board of directors. Meanwhile, his CFO role will be taken over by Wu Wei, who worked for KPMG for 15 years. In addition, Peng Lei's role as chief personnel officer will be replaced by Dai Shan. Those appointments will be effective from May 10, 2013.

Wu Wei was once chief financial officer of Alibaba.com. During the term of office, Wu led the establishment of the financial system of the company and promoted the company's IPO in Hong Kong.

Dai Shan, one of the founders of Alibaba, previously held many executive positions in the group, including human resources vice president of Yahoo China, general manager of the international trading market unit of Alibaba's B2B company, executive director of Alibaba.com, and human resources senior vice president of Taobao.com.

After handing over the chief personnel officer work, Peng Lei will focus on her position as chief executive officer of Alibaba's micro- and small-enterprise financial service group, which is currently undergoing final steps before a launch.

Alibaba Group previously announced that Jack Ma would resign his position as chief executive officer of Alibaba Group and Jonathan Lu was appointed new chief executive officer, effective May 10, 2013.

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