Staff Reporters
Sep 11, 2023

Daniel Zhang suddenly exits Alibaba Group as new chairman and CEO takes over

In a surprise move, Zhang has resigned as head of Alibaba's Cloud Intelligence Group, after stepping aside from his position as chairman and CEO earlier this year.

Daniel Zhang. Photo: Alibaba Group
Daniel Zhang. Photo: Alibaba Group

Former Alibaba Group chairman and CEO Danial Zhang stepped down as CEO of Alibaba Cloud business as he handed over the Group roles to Joseph Tsai and Eddie Wu on Sunday. 

Alibaba Group announced in June that Joseph Tsai, Alibaba’s co-founder and executive vice chairman, would be chairman, and Eddie Wu would replace Zhang as CEO.

Wu will also serve as acting chairman and CEO of Alibaba Cloud Intelligence Group and continue to oversee Taobao and Tmall Group since Alibaba decided to split its business into six units

In a statement shared by Alibaba Group last night with shareholders, the board expressed “its deepest appreciation to Mr Zhang for his contributions to Alibaba Group over the past 16 years."

Zhang has been CEO of Alibaba Group since 2015 and chairman since 2019. He began to lead Alibaba Cloud Intelligence Group last December. 

Five years ago, on 10 September 2018, Alibaba Group formally announced Zhang as the successor for Jack Ma.
 
Alibaba has experienced tumultuous two years since 2021 and reported its most recent quarterly results in August, with revenue surging 14% and beating analysts’ forecasts as most of its business units returned to growth. 
 
More as this story develops.
Source:
Campaign Asia

Related Articles

Just Published

17 hours ago

Top 10 car brands in Southeast Asia

Malaysia's largest car manufacturer Perodua pipped other global favourites like Toyota, BMW and Tesla to become Southeast Asia’s top car brand in 2024. Dive into the insights from Campaign’s exclusive research with Milieu Insight.

17 hours ago

'All polish, no punch': Adland reacts to Jaguar’s ...

The internet has spoken about Jaguar's radical rebrand with mixed reviews. But what do industry experts think?

17 hours ago

Creative Minds: Nutthida Patthanhatirat thrives on ...

This art director’s journey spans from Photoshop struggles to creative triumphs, fuelled by her love of dogs, a taste for luxe, and an unstoppable knack for turning challenges into bold projects.