6/20, 7:08 AM (Source: TeleTrader)
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Alibaba: CEO change to take place in September

Alibaba Group Holding Limited announced on Tuesday that Chairman and Chief Executive Officer Daniel Zhang (pictured) will step down from both posts on September 10, 2023.

The current executive vice chairman of Alibaba Group, Joseph Tsai, will take over as chairman, while Taobao and Tmall Group Chairman Eddie Yongming Wu will replace Zhang as Alibaba Group CEO.

Zhang will become chairman and CEO at Alibaba Cloud Intelligence 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," Zhang said in a press release.

Baha Breaking News (BBN) / MS