Alibaba names new chairman and CEO in major shakeup | CNN Business

Joseph Tsai, executive vice chairman and a co-founder of Alibaba\n \n , will succeed Zhang as chairman, the company said Tuesday. Eddie Wu, chairman of e-commerce unit Taobao and Tmall Group, will succeed Zhang as chief executive officer. Both appointments will take effect in September, and Zhang will continue to serve as the chairman and CEO of Alibaba’s cloud unit.

In 2019, he replaced Jack Ma as the executive chairman, as Ma retired on his birthday and the 20th anniversary of the company as he had promised. Alibaba is China’s largest e-commerce company, boasting more than 900 million active users annually on its Taobao and Tmall platforms. It also operates the country’s biggest cloud computing and digital payment platforms. But the company, along with its co-founder Ma, has been at the center of a sweeping crackdown by Beijing in recent years.

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