Alibaba Group Announces Chairman and CEO Succession Plan

moomoo News ·  06/20 12:31

Alibaba Group Holding Limited’s board of directors today announced that Joseph C. Tsai, currently Executive Vice Chairman, will succeed Daniel Zhang as Chairman of the Company. Eddie Yongming Wu, Chairman of Taobao and Tmall Group, will succeed Mr. Zhang as Chief Executive Officer and replace Mr. Zhang on the Company’s board of directors. Both appointments will take effect on September 10, 2023. Following this transition, Mr. Zhang will 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,” said Daniel Zhang, Chairman and CEO of Alibaba Group. “Looking ahead, I am committed to strengthening Alibaba Cloud Intelligence Group’s market leadership by making cloud computing and artificial intelligence more accessible for businesses of all sizes and industries as they continue their digital transformation. The emergence of generative AI has also opened up exciting new opportunities that Alibaba Cloud Intelligence Group is well-positioned to capture.”

“Daniel has made exceptional contributions to the development of Alibaba Group since joining the company in 2007, and he demonstrated extraordinary leadership in navigating unprecedented uncertainties affecting our business over the past few years. 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,” said Joseph Tsai.

“As chief technology officer of key businesses including Taobao and Alipay during Alibaba’s critical phases of development, Eddie was instrumental in architecting our technology platforms and guiding our strategic direction. He led the creation of our proprietary monetization platform on Taobao and Tmall, and drove the launch of the Mobile Taobao App to propel our company to the mobile-first era. I look forward to working with Eddie to spark our next phase of growth through technology and innovation,” said Tsai.

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