Global Courant
In a major overhaul at the top of the company, Alibaba Group, China’s leading e-commerce giant, announced Tuesday that Daniel Zhang would step down from his role as chairman and CEO of the company.
Mr. Zhang said he would continue to serve as CEO of Alibaba’s cloud computing division. Joseph Tsai, an Alibaba veteran and executive vice chairman, Mr. succeed Zhang as chairman. Alibaba’s e-commerce division leader Eddie Yongming Wu will succeed Mr. Zhang as CEO, the company added. The transition will take effect on September 10.
The realignment comes just a few months after Alibaba said it would split into six divisions in what it calls the “most significantoverhaul in its 24-year history. As part of the shift, each division came under an independent chief executive, and Mr. Zhang assumed the additional title of chief executive of Alibaba’s cloud intelligence group.
With the latest change, Mr. Zhang will no longer be the top leader of Alibaba, a role long held by the company’s founder, Jack Ma, instead taking on a smaller role as division head.
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