Daniel Zhang will step down as CEO and chairman of Alibaba Group Holding on September 10, the e-commerce giant said on Tuesday. Eddie Wu, a co-founder of Alibaba and currently chairman of Taobao and Tmall Group, will succeed as CEO while Joe Tsai, Alibaba’s executive vice chairman, will take Zhang’s place as the company’s chairman.
After the change, Zhang will continue to lead Alibaba Cloud, the company's digital technology and intelligence arm, as chairman and CEO.
