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.

Joseph Tsai, currently Alibaba's executive vice chairman, will succeed Zhang as the group's chairman.

"This is the right time for me to make a transition, given the importance of Alibaba Cloud Intelligence Group as it progresses towards a full spin-off. I look forward to working closely with Joe and Eddie in the coming months to ensure a seamless transition," Zhang said. - Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Singapore’s ‘buy now, pay later’ plans see uplift in sales
Secret bank ratings show US regulator’s concern on handling risk
EPIC to expand its solar energy service network
Don’t let Trump benefit from Biden’s economy
Harris unflinching in her stance against oil pollution
Consumer lending faces challenges
PBoC cuts key policy rate to buoy economy
Indian fund expects budget to equip central bank with liquidity tool
Next-generation US jet fighter programme may get hit by budget woes
Boeing driving ‘change’ that may take years

Others Also Read