Alibaba announces Eddie Wu to succeed Daniel Zhang as CEO in surprise move

Eddie Wu volition win Daniel Zhang arsenic main enforcement of Alibaba Group, portion Joe Tsai volition instrumentality Zhang's spot arsenic the group's chairman, China's largest e-commerce institution announced Tuesday.

Wu is 1 of Alibaba's co-founders and presently president of Taobao and Tmall Group. Brooklyn Nets proprietor Tsai is presently Alibaba's enforcement vice chairman.

Zhang volition proceed to pb the Alibaba Cloud Intelligence Group arsenic president and main enforcement aft this change, which the institution said volition instrumentality effect Sept. 10.

This astonishment succession announcement comes aft Alibaba said successful March it volition split its institution into six concern groups. The institution explained astatine that clip that this volition let each concern radical to rise extracurricular backing and spell nationalist successful the astir important reorganization successful the Chinese e-commerce giant's history.

Wu has held a multitude of roles successful his clip astatine the company, including heading exertion astatine Alibaba's inception, arsenic good arsenic main exertion serviceman astatine Alipay and Taobao. He was besides manager of Alibaba Health Information Technology and founded Vision Plus Capital, a task superior steadfast focused connected investing successful precocious technologies, endeavor services and integer healthcare.

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