Alibaba names co-founder Joe Tsai chairman, in surprise shake-up as Daniel Zhang steps down

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Alibaba has announced corporate shake-up plans. Daniel Zhang Yong, Alibaba’s eight-year CEO and chairman who steered the company through its transition after Jack Ma, will step aside to focus on Alibaba’s cloud unit. Joe Tsai, who is currently Alibaba’s executive vice-chairman and one of two permanent partners at Alibaba along with Jack Ma, will take over as chairman. He is also the chairman of SCMP, which is owned by Alibaba. Eddie Wu Yongming, who became chairman of Taobao & Tmall Group in May 2023, will become the new Alibaba CEO. The leadership shake-up follows Alibaba’s largest-ever restructuring in March.

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