Daniel Zhang, currently Chairman and CEO of the entire Alibaba Group, will narrow his focus to the Alibaba Cloud Intelligence Group, which the company plans to spin off as its own independently listed company. Current Executive Vice Chairman Joseph Tsai will succeed Zhang as Chairman, and Eddie Yongming Wu, Chairman of Taobao and Tmall Group, will succeed Zhang as CEO and Director of the board. All these changes will take effect on Sept. 10, 2023.
Wu was the CTO of vital businesses, including Taobao and Alipay, during key phases of Alibaba’s development. He was the chief architect of Alibaba’s technology platforms and served as general manager of Alimama, Alibaba’s proprietary monetization platform on Taobao and Tmall. He also spearheaded the launch of the Mobile Taobao app.
These executive changes come three months after Alibaba introduced a significant organizational transformation that will lead to what it terms the “1+6+N” model. The company plans to split into six groups, each with its own leadership and financial structure. In addition to spinning off the Cloud Intelligence Group, this transition will include the IPOs of Cainiao Smart Logistics and Freshippo and external capital raising for Alibaba International Digital Commerce Group, all of which are subject to relevant conditions and regulatory approvals.
“Daniel has made exceptional contributions to the development of Alibaba Group since joining the company in 2007, and he demonstrated extraordinary leadership in navigating unprecedented uncertainties affecting our business over the past few years,” said incoming Chairman Tsai in a statement. “We believe there is no better leader than Daniel to steer Alibaba Cloud Intelligence Group into the next chapter of its journey and future growth.”
Advertisement
