Specifically, Eddie Wu has just been appointed to succeed Daniel Zhang as CEO of Alibaba, which will allow Zhang to focus entirely on the cloud computing business (Cloud Intelligence Group).
Wu is known to be one of the company's founders, having held many important positions during his time working at the group, including: chief technology officer of Alibaba, Alipay and Taobao. He is also the director of Alibaba Health Information Technology and founded Vision Plus Capital, a venture capital firm in the fields of advanced technology, enterprise services and digital healthcare.
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| Joe Tsai (left) and Eddie Wu (right) will take over as Chairman and CEO of China's largest e-commerce group. |
The high-level personnel changes come after Alibaba said it would split into six different units, in the most significant organizational restructuring since the e-commerce giant was founded. It is aimed at restoring the group's strength in the context of slowing economic growth in the mainland and pressure from regulators.
China's largest e-commerce giant also announced that Vice Chairman Joe Tsai will replace Zhang as chairman of the group.
Alibaba said last month it plans to complete the spin-off of its cloud computing unit and aims to turn the unit into an independent publicly listed company within 12 months.
In addition to cloud, some other spin-off units include: Ta0bao Tmall, Cainiao Smart Logistics, local food delivery and mapping service arm, global e-commerce business (AliExpress and Lazada) along with digital media and entertainment division.
Daniel Zhang has been CEO of Alibaba since 2015 and took over as chairman from billionaire Jack Ma in 2019.
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