Alibaba Group on Tuesday said its CEO and chairman Daniel Zhang will step down from the roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units.
Alibaba Group CEO Daniel Zhang speaks at the World Internet Conference in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song/FILE PHOTOZhang to wholly focus on cloud unitAlibaba aims to complete cloud unit listing in a yearon Tuesday said its CEO and chairman Daniel Zhang will step down from the roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units.
"The idea or expectation that one person could manage the business' crown jewel Cloud and at the same time manage the entire Alibaba Group is an unreasonable expectation." "It would be inappropriate for me to continue serving as chairman and CEO of both companies at the same time during the spin-off process."$41 billion to $60 billion but have said the reams of data it oversees could put it in the cross-hairs of regulators at home and abroad.Zhang, a former accountant, joined Alibaba in 2007 and is known for being the architect behind the company's annual flagship "Singles Day" shopping festival.
, as analysts viewed the reshuffle as being in line with the overall restructuring previously announced. Wu's elevation to CEO "is a natural transition and signals the unswerving importance of e-commerce in the company's roadmap," said Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, a Beijing-based e-commerce consultancy.
Ma left mainland China in late 2021 - appearing in photographs in Japan, Spain, Australia and Thailand - and returned in March, a day before Alibaba announced its restructuring. He has not made any public comments during that period.cared very much
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