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The e-commerce giant announced in March it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24-year history.
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The management turmoil comes after the Chinese tech giant's restructuringZhang to fully focus on the cloud unitJoseph Tsai succeeds Zhang as chairman of
Outgoing Alibaba CEO Daniel Zhang said the cloud business is "now full speed ahead on its spin-off plans," and that is a reason why he is stepping down as group boss.
Alibaba co-founder Joe Tsai is taking over as chairman with Eddie Wu as CEO. Current chairman & CEO Daniel Zhang will head the cloud business.
Alibaba Group said its CEO and chairman Daniel Zhang will step down from both roles to focus on its cloud division.