Alibaba Group rejigs management; Eddie Wu takes over as CEO
Outgoing Alibaba Group Chairman and CEO Daniel Zhang will focus on the company's cloud unit.
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Outgoing Alibaba Group Chairman and CEO Daniel Zhang will focus on the company's cloud unit.
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Alibaba has appointed Eddie Wu as the new CEO to succeed Daniel Zhang, allowing Zhang to focus on the company's cloud computing unit. This marks the first time Zhang will step down as CEO since he assumed the role in 2015. Joe Tsai will take over Zhang's role as the group's chairman.
The leadership shake-up comes months after Alibaba, which is the third-most valuable company in China, announced it would split into six groups.
SHANGHAI - Alibaba Group on Tuesday (June 20) said its CEO and chairman Daniel Zhang will step down from the roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units. Zhang has been concurrently serving in three roles since December when he took over as head of...