The Chinese technology company is repositioning itself.
(Photo: AP)
Shanghai Chinese Amazon rival Alibaba is getting a new CEO. Eddie Yongming Wu, head of Alibaba commerce platforms Taobao and TMall, will succeed Daniel Zhang in the Chinese e-commerce giant’s biggest leadership reshuffle since its restructuring, Alibaba said on Tuesday.
Zhang, who has been chairman of the group and board of directors since December, will lead the cloud unit, which is considered a candidate for the stock market. Alibaba has been in the sights of the Chinese authorities for two years and announced in early 2023 that it would convert the group into six units, each with its own board of directors.
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