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HomeLatest NewsAlibaba reorganizes its leadership and appoints its new president and CEO

Alibaba reorganizes its leadership and appoints its new president and CEO

Date: June 17, 2024 Time: 03:27:31

Alibaba Group has appointed this Tuesday the new delegate of the electronic commerce giant Eddie Yongming Wu, the current president of Taobao and Tmall and one of the co-founders of the Chinese company, who will replace the current chief executive Daniel Zhang and will occupy his position on the board of directors as of next September 10.

For its part, the Chinese giant has also announced who will be the new president of the company and will take over from Daniel Zhang, this is the current executive vice president of Alibaba, Joseph C. Tsai, but the new CEO will not be destroyed until don’t do Eddie Yongming in September.

On his side, Daniel Zhang, who has held the position of Alibaba CEO since 2015, will continue to lead Alibaba Cloud Intelligence Group as its president and CEO. He also assures that for him it has been a privilege to be in charge of Alibaba Group during these last eight years.

Attract external capital

The until now CEO of the entity believes that the time has come for a transition like this to be carried out, “it has been an incredible honor and privilege to lead Alibaba Group as CEO for the last eight years and as president for the last four years “, given the importance of Alibaba Cloud Intelligence Group as the company moves towards a full spin-off.

Last March, Alibaba announced its intention to undertake a reorganization of its activity, including its division into six companies, each with flexibility to raise external capital and study the possibility of going public.

In this way, the six business groups will continue to be Intelligence in the Cloud; Taobao Tmall Commerce Group; Local Services; Cainiao Intelligent Logistics; Global Digital Commerce and Entertainment and digital media. Each business group will retain the flexibility to raise outside capital and make an initial public offering when they are ready, with the exception of Taobao Tmall, which will remain owned by Alibaba Group.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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