Alibaba Group announced that it has chosen its new CEO to replace Daniel Zhang. According to the statement, the new CEO will be Eddie Wu.
Eddie Wu will replace Daniel Zhang as CEO of Alibaba Group, while Joe Tsai will replace Zhang as chairman of the group, China’s largest e-commerce company said on Tuesday.
Wu is a co-founder of Alibaba and is currently the chairman of Taobao and Tmall Group. Tsai, owner of the Brooklyn Nets, is currently the vice president of Alibaba.
Zhang will continue to lead the Alibaba Cloud Intelligence Group as president and general manager after this change, which the company says will take effect on September 10.