Page 15 - Cloud Intelligence Group News Today

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Alibaba stock lost more than 4% in Hong Kong on Monday after ex-group CEO Daniel Zhang quit its cloud computing unit in a surprise decision.

Alibabas stock fell over 4% in Hong Kong after ex-CEO Daniel Zhang resigned from the companys cloud computing unit. Concerns have arisen over the spin-off plan for the unit and potential discord at the top. New CEO Eddie Wu will take on the role of acting CEO and chairman of the unit, which is struggling with weak sales growth ahead of its planned IPO next year.

Former Alibaba CEO Daniel Zhang's resignation from the cloud computing unit came as a surprise, leading to a neatly 4 per cent fall in the company's share price.

Daniel Zhang had previously been concurrently serving in three roles, heading the group as well as the cloud intelligence unit. The unit is Chinas largest cloud provider and is set to be spun off from Alibaba as part of the groups restructuring.

Alibaba shares fell over 4% in Hong Kong Monday after the group's former CEO, Daniel Zhang, left its cloud computing division, a surprise move that...

In a surprise development, former Alibaba Group Chairman and CEO Daniel Zhang has stepped down as head of the e-commerce giant's cloud division, the media reported on Monday.His resignation from the Cloud unit came as he was scheduled to hand ...

Shares of Alibaba Group Holding Ltd. dropped around 3 percent in Hong Kong trading after the Chinese e-commerce major announced the departure of Daniel Zhang, former chief executive officer, as the head of its cloud business.

Alibaba Group Holdings former CEO, Daniel Zhang, has unexpectedly left the companys cloud computing unit, raising concerns about its spinoff plans. Alibaba announced in March that it would split into six main business units, each with its own CEO and board of directors. The Cloud Intelligence Group, which includes Alibabas cloud computing unit, is the companys dominant player in Chinas domestic cloud computing sector.

Alibaba Group Holding Limited (NYSE: BABA) prepared to part with