Alibaba Group said on Tuesday its CEO and chairman Daniel Zhang will step down from those roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units. The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba's Taobao and T
Alibaba Group said on Tuesday its CEO and chairman Daniel Zhang will step down from those roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units.
"These leadership changes do not necessarily signal a major strategic shift within Alibaba, given that the individuals are co-founders, close associates of Jack Ma, and being promoted internally. If anything, it emphasises the increasing importance of AI in the company's focus, while also underscoring that e-commerce is the core business unit.
"This is really a vote of trust and confidence in his ability as an operator ... but at the same time helping him to free up his time and resources by separating the two CEO roles.""It surprised me that he decided to relinquish the positions of CEO and chairman. We think in terms of information security, Cloud holds greater significance compared to the rest of Alibaba therefore it kind of makes sense to put someone like him in the Cloud business.
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