Alibaba stock slides after ex-CEO abruptly quits cloud unit ahead of IPO

Alibaba's stock fell over 4% in Hong Kong after ex-CEO Daniel Zhang resigned from the company's 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.

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