Alibaba Group Holding s former CEO, Daniel Zhang, has unexpectedly left the company s cloud computing unit, raising concerns about its spinoff plans. Alibaba announced in March that it would split into six main business units, each with its own CEO and board of directors. The Cloud Intelligence Group, which includes Alibaba s cloud computing unit, is the company s dominant player in China s domestic cloud computing sector.
The e-commerce giant announced in March it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24-year history.
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Alibaba Group Holding said
on Tuesday that Eddie Yongming Wu, chairman of its Taobao and
Tmall Group, will succeed Daniel Zhang as chief executive
officer, in the company s biggest executive reshuffle. | June 20, 2023