In a significant leadership reshuffle, Alibaba Group (NYSE:BABA) has announced that Eddie Wu, one of the company’s co-founders and current chairman of Taobao and Tmall Group, will succeed Daniel Zhang as CEO, CNBC reports.
Leadership Transition: Wu’s appointment as CEO is part of Alibaba’s succession plan. The transition is set to take effect on September 10.
Zhang’s New Role: Post-transition, Zhang will continue to lead the Alibaba Cloud Intelligence Group, serving as its chairman and chief executive.
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