Alibaba Names New Chairman and CEO in Major Shakeup

Alibaba, the Chinese tech giant, is undergoing its largest shakeup in history with the announcement of leadership changes.

Daniel Zhang, the current chairman and CEO, will be replaced by Joseph Tsai as chairman and Eddie Wu as CEO, effective from September. Zhang will continue to serve as the chairman and CEO of Alibaba’s cloud unit.

This leadership transition follows a major restructuring in March, where Alibaba split into six separate units, each with its own CEO and board directors.

Zhang, who has been Alibaba’s CEO since 2015, stated that this is the right time for him to make a transition, particularly considering the significance of Alibaba Cloud Intelligence Group and its progress towards a full spin-off.

Wu, a co-founder of Alibaba and its technology director since the company’s inception in 1999, emphasized that despite the corporate organizational changes, Alibaba’s mission remains unchanged.

Alibaba, China’s largest e-commerce company, has faced challenges in recent years.

Co-founder Jack Ma’s public criticism of Chinese financial regulators in 2020 led to the cancellation of Ant Group’s highly anticipated IPO and triggered a regulatory crackdown on the internet industry.

Alibaba itself was fined a record $2.8 billion for antitrust violations. Ma had since retreated from the public eye but has made a few notable appearances, including returning to mainland China before Alibaba’s restructuring announcement.

Despite these challenges, Alibaba remains a dominant force in China’s e-commerce landscape, with over 900 million active users on its platforms.

The company also operates significant cloud computing and digital payment platforms. The leadership changes signal a new chapter for Alibaba as it continues to navigate evolving regulatory landscapes and pursue opportunities in areas such as cloud business and generative AI.