Hong Kong, 19th June: Earlier this week, the leading e-commerce company in China, the Alibaba Group, announced major leadership changes.

Executive Vice Chairman, Joseph C. Tsai, will succeed Daniel Zhang as Chairman. Chairman of Taobao and Tmall Group, Eddie Yongming Wu, will succeed Zhang as CEO and replace Zhang on the Alibaba Group’s board of directors.

The appointments will take effect on 10th September 2023. Zhang will continue to lead Alibaba Cloud Intelligence Group as its Chairman and CEO.