Daniel Zhang has unexpectedly resigned as CEO and Chairman of Alibaba Group. He has served as CEO for the past eight years and as Chairman for the past four years. Successors for these two vacant positions have already been determined: Joseph C. Tsai, currently Executive Vice Chairman, will succeed Zhang as Chairman. Eddie Yongming Wu, Chairman of Taobao and Tmall Group, will succeed Zhang as Chief Executive Officer and also replace him on the company’s board of directors.
Both appointments will take effect on Sept. 10, 2023. Following this handover, Zhang will continue to lead the Alibaba Cloud Intelligence Group as Chairman and Chief Executive Officer. Alibaba’s cloud unit is considered a stock market aspirant.
“This is the right time for me to make a transition, given the importance of Alibaba Cloud Intelligence Group as it progresses towards a full spin-off,” commented Zhang, who will work closely with Tsai and Wu to ensure a seamless transition in the coming months. “Looking ahead, I am committed to strengthening Alibaba Cloud Intelligence Group’s market leadership by making cloud computing and artificial intelligence more accessible for businesses of all sizes and industries as they continue their digital transformation. The emergence of generative AI has also opened up exciting new opportunities that Alibaba Cloud Intelligence Group is well-positioned to capture.” Tsai added, “We believe there is no better leader than Daniel to steer Alibaba Cloud Intelligence Group into the next chapter of its journey and future growth.”
As Chief Technology Officer (CTO) of key companies such as Taobao and Alipay during Alibaba’s critical development periods, Wu was instrumental in developing the group’s technology platforms and strategic direction. “[Wu] led the creation of our proprietary monetization platform on Taobao and Tmall, and drove the launch of the Mobile Taobao App to propel our company to the mobile-first era. I look forward to working with [him] to spark our next phase of growth through technology and innovation,” said Tsai. Wu will continue to serve as Chairman of the wholly-owned subsidiary Taobao and Tmall Group, a role he has held since May 2023.
Wu, the new CEO, has a long history with the group. He was the Technology Director of Alibaba and co-founder of the company in 1999, served as CTO of Alipay from December 2004, became Business Director of monetization platform Alimama in November 2005 and was promoted to its GM in December 2007. In September 2008, he became CTO of Taobao, and in October 2011, he took charge of Alibaba Group’s search, advertising and mobile business. Wu was also a director of Alibaba Health Information Technology Limited – a company listed on the main board of the Hong Kong Stock Exchange – from April 2015 to October 2021, and Chairman of Alibaba Health from April 2015 to March 2020. From September 2014 to September 2019, he was a special assistant to the Chairman of Alibaba Group. In August 2015, he founded Vision Plus Capital, a venture capital firm focused on investing in advanced technologies, business services, and digital health.
