Alibaba co-founder Joe Tsai to take over as chairman as Daniel Zhang steps aside to focus on cloud business

Zhang is relinquishing his roles as chairman and CEO after steering the tech giant through its transition following founder Jack Ma’s departure. Tsai will take over the chairman role from Zhang, who previously ran Taobao and is credited with starting the Singles’ Day shopping festival. — SCMP

Daniel Zhang Yong, the 51-year-old Chinese business executive, has announced his resignation as Alibaba Group Holding chairman and chief executive to focus on Alibaba Cloud, the digital technology and intelligence backbone of the group.

Zhang will be succeeded as chairman by Joseph C. Tsai, who is currently executive vice-chairman, and Eddie Wu Yongming, chairman of Taobao & Tmall Group, will become CEO. Zhang will continue on at the company as chairman and CEO of Alibaba Cloud Intelligence Group, the company said in a statement on Tuesday. The change will take effect September 10.