Wu Eddie (Eddie Wu)

Wu Eddie (Eddie Wu)

Biography

2023: Appointment as Alibaba CEO

On June 20, 2023, the CEO of Alibaba Group Holding was announced. It was Eddie Wu, who previously headed the Taobao and Tmall Group, which unites a number of Alibaba e-commerce platforms. He will also join the company's board of directors.

The former head of Alibaba Group, Daniel Zhang, will step down from this post and focus on the group's cloud business. Zhang will also leave the post of chairman of Alibaba, where he will be replaced by Joe Tsai, but will become the head of Alibaba Cloud Intelligence Group when its separation from Alibaba ends. The appointments will take effect on September 10, 2023, the press service of the Chinese Internet giant said.

Now is the right time for such changes, given the importance of the Cloud Intelligence Group, which Alibaba is preparing to spin off as an independent company, "commented Daniel Zhang, CEO of the corporation.

Alibaba will split into six independently managed entities. The solution is designed to enable all Alibaba divisions to become more flexible, speed up the decision-making process, and respond faster to market changes.

According to analysts, the resignation of Daniel Zhang was rather unexpected, given that quite recently he presented a large-scale restructuring program for the company to stimulate growth and occupy leading positions in a number of areas.

The good thing is that the new CEO and chairman are the co-founders of the company and are closest to Jack Ma. This means that Ma remains the spiritual leader of Alibaba, "Kenny Wen, head of investment strategy at KGI Asia Ltd, told Bloomberg, commenting on the personnel reshuffle. - I do not think that the change in leadership indicates a serious change in strategy.[1]

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