Alibaba Group (9988.HK) 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, APA reports citing Reuters.
Zhang has been concurrently serving in three roles since December when he took over as head of the cloud unit after it suffered an outage that it described as its "longest major-scale failure" for over a decade.
The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba's Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over Zhang as chairman.
Both appointments will take effect on Sept. 10, Alibaba said.
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