Big change in Alibaba group, Who took over the post of CEO? | Jagran Business

In a major top management reshuffle, Chinese tech giant Alibaba announced on Tuesday that Chairman and CEO Daniel Zhang would soon step down. He will be replaced by Joseph Tsai, the current executive vice president, as the company's next CEO.

Daniel Zhang confirmed this in a statement, saying that it is the right time for him to step down, as the firm seeks to implement a full spin-off of its advanced cloud computing unit.

What is Alibaba?

Alibaba, based in Hangzhou, China , is one of China's most prominent technology firms, with business operations spanning areas such as cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence.

Change in Alibaba's top management

The company said that following this executive transition, Zhang will continue to serve as president and CEO of Alibaba Cloud Intelligence Group. The firm has faced several unprecedented hurdles in recent years, as China imposed tighter restrictions on the domestic tech sector. Alibaba said in late March that it would soon split into six business groups.