Alibaba Group Creates CRO Role
Chinese e-commerce group Alibaba will add a chief risk officer to its executive team, and Shao Xiaofeng, former secretary general for Alibaba, will be the first CRO of the group.
According to the future plans of Alibaba Group, the company will implement a risk management system in organizational construction, values enhancement, and institutional guarantees to control the influences brought by uncertainties and changes while realizing its strategic goals.
Shao will reportedly be responsible for developing the group’s risk management strategy and plans; establishing risk management evaluation criteria and organization; evaluating external environmental changes and challenges that the group must face during its development; and organizing the implementation of risk management and internal control system measures.
In addition, he will provide advice about risks in the enterprise environment, strategy, and management process and help the company build adequate and stable institutional safeguards.