Alibaba’s Daniel Zhang Will Leave Top Post, Replaced by Joseph Tsai
In a major overhaul at the top of the company, Alibaba Group, China’s leading e-commerce giant, announced on Tuesday that Daniel Zhang would relinquish his role as chairman and chief executive of the company.
Mr. Zhang said he would continue to serve as chief executive of Alibaba’s cloud computing division. Joseph Tsai, an Alibaba veteran and executive vice chairman, will succeed Mr. Zhang as chairman. The leader of Alibaba’s e-commerce division, Eddie Yongming Wu, will succeed Mr. Zhang as chief executive, the company added. The transition is to take effect on Sept. 10.
The reshuffle comes just a few months after Alibaba said it would split itself into six divisions in what it called the “most significant” overhaul in its 24-year history. As part of the shift, each division came under the leadership of an independent chief executive, and Mr. Zhang took on the additional title of chief executive of Alibaba’s cloud intelligence group.
With the latest change, Mr. Zhang will no longer be Alibaba’s top leader, a role long occupied by the company’s founder, Jack Ma, instead taking on a smaller role as a division head.
This is a developing news story. Check back for updates.
Check out our Latest News and Follow us at Facebook
Original Source
