SHANGHAI: Alibaba Group said on Sunday that Daniel Zhang will step down as chairman and chief executive officer of its cloud business.
Zhang had previously been concurrently serving in three roles, heading the group as well as its cloud unit. On Sunday he handed over the role of the group's CEO to Eddie Wu, and the chairman post to Joseph Tsai. Zhang was then supposed to focus on leading Alibaba's cloud division, but Wu will also take charge of that now.
, the moves were viewed as a surprise by the Chinese tech giant looking to recover from years of slow growth caused by weak consumer spending and a crackdown by authorities.to undergo a fundamental reorganisation of its sprawling business operations, which span cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence.