BEIJING, June 20. /TASS/. Eddie Wu will succeed Daniel Zhang as Chief Executive Officer of Alibaba in September, while Joseph Tsai, currently Executive Vice Chairman, will succeed him as Chairman of the board of directors, Alibaba said in a statement on Tuesday.
Both appointments will take effect on September 10, 2023. Following this transition, Daniel Zhang will continue to lead Alibaba Cloud Intelligence Group. "This is the right time for me to make a transition, given the importance of Alibaba Cloud Intelligence Group as it progresses towards a full spin-off," he was quoted as saying.
The plans of the largest corporate restructuring of Alibaba’s business since the company was founded by Jack Ma more than two decades ago was announced in March. The reorganization implied the creation of six independent units focusing on cloud computing (Cloud Intelligence Group), e-commerce (Taobao-Tmall), smart logistics (Cainiao), local services, global business operations (Global Digital Business Group), as well as media and entertainment.