Daniel Zhang’s replacement as CEO will be announced by Alibaba Group in its succession plan.
Alibaba Group, a major player in Chinese e-commerce, unveiled a surprise succession plan on Tuesday. Eddie Yongming Wu, a seasoned e-commerce executive, will succeed Daniel Zhang as the company’s CEO in accordance with this succession plan. When the succession plan is impacted, Zhang will devote all of his attention to the team’s cloud intelligence section. Zhang has been the CEO and chairman of the Alibaba Group since December. He is also the director of Alibaba’s cloud intelligence division. According to a statement from the corporation, Zhang will be succeeded as chairman by Executive Vice Chairman Joseph Tsai. This succession announcement…