Alibaba CEO To Step Down For EVC

SHALOM OLALEYE

Chinese multinational technology company , Alibaba has announced its plans to change its current CEO.

The Tech company specializing in e-commerce, retail, Internet, and technology made this known today.

Board of directors announced that CEO Daniel Zhang will be succeeded by Joseph Tsai, currently Executive Vice Chairman, as Chairman of the Company. Eddie Yongming Wu, Chairman of Taobao and Tmall Group, will also succeed Zhang as Chief Executive Officer and replace him on the Company’s board of directors.

CEO, Alibaba Group , Daniel Zhang

Zhang will then continue to lead Alibaba Cloud Intelligence Group as its Chairman and Chief Executive Officer.

“It has been an incredible honor and privilege to lead Alibaba Group as CEO over the past eight years and Chairman over the past four years. This is the right time for me to make a transition, given the importance of Alibaba Cloud Intelligence Group as it progresses towards a full spin-off. I look forward to working closely with Joe and Eddie in the coming months to ensure a seamless transition,” Chairman and CEO, Alibaba Group, Daniel Zhang said.

In addition, Joseph Tsai said ,
“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,”.

Executive Vice Chairman, Alibaba, Joseph C. Tsai

“I look forward to working with Eddie to spark our next phase of growth through technology and innovation,” he added.

Furthermore, Eddie Yongming Wu expressed his gratitude to the board of directors,

Eddie Yongming Wu

“I am grateful for the trust of the Alibaba Group board of directors and i am honored to succeed Daniel as Alibaba’s CEO,” he said.

Both appointments will take effect on September 10, 2023.