Chinese e-commerce giant Alibaba Group Holding Ltd. announced on Wednesday that Shao Xiaofeng, the company's former secretary general, will be appointed as its chief risk officer (CRO), according to reports on Thursday.
The position will help Alibaba optimize its management team, improve the group's ability to cope with risks and prepare for changes in the market, the company said.
Alibaba said it attaches great importance to the optimization of its management structure and company culture, which will be crucial to its future development.
Shao joined Alibaba Group in 2005. He has worked for multiple Alibaba companies, including Taobao and Alipay, and has expertise in e-commerce, online transactions, risk management and security.
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