12/6/2021, 11:15 AM (Source: TeleTrader)
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Alibaba up 3% premarket in US after CFO change

Alibaba Group Holding Limited's shares listed in the United States rose 3% in premarket trade on Monday after the company announced that Chief Financial Officer Maggie Wu will be succeeded by current Deputy CFO Toby Xu on April 1, 2022.

Once the change takes effect, Wu will become an executive director on the company board. Xu joined Alibaba three and a half years ago and was named deputy CFO a year later. Previously, he spent over a decade as a partner at PricewaterhouseCoopers (PwC).

Alibaba's stock in the US grew 2.14% at 5:13 am ET, selling for $114.27.

Baha Breaking the News (BBN) / MS