By CHENG Lu
Chairman and CEO of Alibaba Daniel Zhang, is to step down from both roles on September 10. Eddie Wu, a co-founder of Alibaba and current chairman of Taobao and Tmall Group, will succeed Zhang as CEO, while Joe Tsai, Alibaba's executive vice chairman, will take over as chairman.
Zhang will continue to lead Alibaba Cloud, the digital technology and intelligence arm of the company that is at a crucial stage of development, requiring his full attention. Zhang also highlighted the need to comply with regulations, stating that it is not appropriate for him to hold the positions of chairman and CEO in two companies.
The board also approved the appointment of Joe Tsai as chairman of Alibaba Group Holding and Eddie Wu as the CEO. Wu will continue to serve as chairman of Taobao Group.
Alibaba emphasized that the group will coordinate various business groups but also deliver new technologies and incubate innovative business ideas.
Joe Tsai, currently executive vice chairman of Alibaba Group, is one of the company's founders. From the establishment of the company in 1999 until 2013, he was CFO. In 2014, he led the company's listing on the New York Stock Exchange and oversaw investments. Tsai is also the chairman of Cainiao Network, a director of Taobao Group, and a director of Ant Group.
Alibaba considers his global experience to be strong support for internationalization. His comprehensive understanding of Alibaba's development, strategic direction, and cultural heritage will contribute to the future growth of the group.
Eddie Wu, also a co-founder and partner, has a technical background, previously serving as CTO for various important businesses and constructing the underlying technical architecture. He drove the company's mobile transformation through Mobile Taobao. Wu's years of following global technology trends will further broaden Alibaba's technological vision.
Since Alibaba’s transformation began in March, the new business clusters have taken shape with plans for listing and financing underway.
This management transition is believed to be aligned with the intentions of the company's founder, Jack Ma, who recently held discussions with senior executives.
Although Ma is in retirement, he still provides insights on business matters. Ma has acknowledged the intense competition faced by Taobao at present. It is reasonable to assume that these executive changes are in line with the founder's vision.
