Alibaba announces Eddie Wu to succeed Daniel Zhang as CEO in surprise move

The logo of the Alibaba office building is seen in downtown Huangpu District in Shanghai, China, June 1[ads1]6, 2023.

Cost photo | Nurphoto | Getty Images

Eddie Wu will succeed Daniel Zhang as CEO of Alibaba Group, while Joe Tsai will take Zhang’s place as the group’s chairman, China’s largest e-commerce company announced on Tuesday.

Wu is one of Alibaba’s co-founders and currently chairman of Taobao and Tmall Group. Brooklyn Nets owner Tsai is currently Alibaba’s executive vice president.

Zhang will continue to lead Alibaba Cloud Intelligence Group as chairman and CEO after this change, which the company said will take effect on September 10.

This surprise success announcement comes after Alibaba said in March that it would split the company into six business groups. The company explained at the time that this would allow each business group to raise external financing and go public in the most significant reorganization in the history of the Chinese e-commerce giant.

Wu has held a number of roles in his time at the company, including chief technology officer at Alibaba’s inception, as well as chief technology officer at Alipay and Taobao. He was also director of Alibaba Health Information Technology and founded Vision Plus Capital, a venture capital firm focused on investing in advanced technology, enterprise services and digital healthcare.

This is breaking news. Please check back for updates.

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