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Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle

KIFI

By ZEN SOO
Associated Press

HONG KONG (AP) — China’s Alibaba Group has announced a major management reshuffle as the e-commerce giant restructures into six different business divisions to adapt to fast-changing technologies. The company says Eddie Wu, chairman of its e-commerce group, will succeed Daniel Zhang as CEO. Zhang will become CEO and chairman of Alibaba’s cloud computing unit. It has been approved to be spun off and is expected to be listed for trading within a year. The company said its current executive vice chairman and an Alibaba co-founder, Joseph Tsai, will succeed Zhang as chairman of the Alibaba Group. The changes take effect Sept. 10. Zhang became Alibaba Group’s CEO in 2015 and succeeded Alibaba co-founder Jack Ma as chairman in 2019.

Article Topic Follows: AP National

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