In a significant leadership reshuffle, Alibaba Group 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 Sept. 10.
Zhang’s New Role: Post-transition, Zhang will continue to lead the Alibaba Cloud Intelligence Group, serving as its chairman and chief executive.
Hi, I am the Benzinga Newsbot!
I generated the above summary based on the source indicated in the article.
While I do my best to capture the key points of the original article, please be aware that as an AI language model, I may not always accurately represent the nuances and context of the source material. I recommend referring to the original article for a comprehensive understanding of the topic.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.