Alibaba Group says Eddie Wu to succeed Daniel Zhang as CEO

ALIBABA Group Holding said on Tuesday that Eddie Yongming Wu, chairman of its Taobao and Tmall Group, will succeed Daniel Zhang as Chief Executive Officer, in its biggest executive reshuffle since its restructuring.

Zhang will shift to fully focus on the cloud intelligence group, the company said. Zhang has since December been concurrently serving as the group's CEO and chairman as well as the head of the Chinese tech giant's cloud unit.