FILE PHOTO: Alibaba Group CEO Daniel Zhang (Zhang Yong) speaks at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song/File Photo
Beijing: Chinese tech heavyweight Alibaba Group Holding Ltd announced on Sunday night that Daniel Zhang will step down as chairman and CEO of its cloud business, a move that comes just two months after the company said he would leave his roles as chairman and CEO of Alibaba to focus on the cloud division.
Zhang had previously been concurrently serving in three roles, heading the company and its cloud unit.
As scheduled, Zhang handed over the role of Alibaba’s chairman to Joseph Tsai on Sunday, while Wu Yongming took over the CEO role from Zhang.
Meanwhile, Wu will also lead Alibaba’s Cloud Intelligence Group as its chairman and CEO after Zhang’s departure, the company said in a statement.
Alibaba will invest US$1bil in a technology fund that Zhang will establish, it added. — China Daily/ANN
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