"The announcement of Alibaba's CFO transition today is the culmination of extensive preparation over many years and a part of Alibaba's leadership succession planning," said the outgoing CFO Wu. "We are in a relay race, and we must have new generations of talent to take the company forward." At the investor day event, Alibaba is expected to shed light on the recent performance and outlook for its key businesses that include its core ecommerce business, consisting of Taobao, Tmall and Tmall Import, new retail business Freshippo, local services, including Ele.me food delivery business, Cainiao Logistics and the Alibaba Cloud unit.