The Chinese Alibaba Group announced in an announcement who will take charge of the affairs following major structural changes in the company.
A few months ago, it was announced that the Chinese group Alibaba had made peace with the Beijing-based government and was to be split into several smaller businesses. The company has now announced in an announcement who will be the new CEO and chairman of the board following these changes.
According to CNN, “Joseph Tsai” (or more accurately pronounced, Joseph Tsai), the former vice chairman and co-founder of Alibaba Group, will become the chairman of the board as the successor of “Daniel Zheng“. On the other hand, “Eddie Wu”, the chairman of the board of directors of the e-commerce platform Taobao and Tmall Group, will also replace Zheng as the CEO of Alibaba. He will also receive Zheng’s seat on the board.
These two people are going to start working in their new positions on September 10, 2023.
Where will the previous CEO of Alibaba go?
Following this incident, Daniel Zheng will continue to work as the chairman of the board and CEO of Alibaba’s cloud unit. Zheng said in a statement about this: “Given the importance of Alibaba Cloud Intelligence Group in the process of separating from the parent company, the time is right for me to make this transition.” He emphasized that the emergence of generative artificial intelligence has created exciting new opportunities for the company’s cloud business.
Eddie Wu also said about these changes: “I appreciate the trust that the board of directors of Alibaba Group has in me and I am proud to replace Daniel as the CEO of Alibaba. Although ongoing developments create new organizational and administrative structures, Alibaba’s mission remains unchanged.
The changes come as Alibaba and its former CEO, Jack Ma, have struggled with Chinese regulators for several years. But finally, in April, it was announced that this large Chinese company will be divided into six smaller businesses. Jack Ma also seems to have chosen a quieter life now and is teaching at the University of Tokyo.
