'When We Meet Again, May We All Be Carefree': Read the Outgoing Alibaba CEO's Memo to Staff – NBC Connecticut nbcconnecticut.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbcconnecticut.com Daily Mail and Mail on Sunday newspapers.
Alibaba announced Tuesday the unexpected resignation of its CEO Daniel Zhang. He will be replaced on the board by Joseph C. Tsai, Alibaba's current executive vice chairman. Eddie Yongming Wu, who heads the group's main consumer e-commerce applications (Taobao and Tmall), will become the new CEO.These changes come after several years of turbulence in the tech sector. Alibaba was particularly targeted by a regulatory tightening of the authorities against giants of the sector. However, the Chinese government seems to be letting go in recent months and adopting a more conciliatory attitude.