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Daniel Zhang

All articles tagged with #daniel zhang

business2 years ago•3 min saved

Alibaba's Former CEO Daniel Zhang's Departure Causes Share Slide

Alibaba's stock dropped over 4% after former CEO Daniel Zhang unexpectedly quit the company's cloud computing unit, raising concerns about the impact on the subsidiary's planned IPO next year. Zhang had recently chosen to focus solely on the cloud unit, which has been facing weak sales growth. Eddie Wu, the new group CEO, will take over as acting CEO and chairman of the unit. Despite Zhang's departure, Alibaba intends to proceed with the spinoff of the cloud unit under a yet-to-be-appointed management team.

via Reuters|

#alibaba #business #cloud-computing

business2 years ago•1 min saved

Surprise Exit: Former Alibaba CEO Daniel Zhang Quits Cloud Unit

Former Alibaba CEO Daniel Zhang has unexpectedly stepped down as head of the company's cloud division, Alibaba Cloud Intelligence Group, on the same day he was scheduled to hand over the reins of the parent company to co-founder Joseph C. Tsai. The new CEO, Eddie Wu Yongming, has taken over as acting chairman and CEO of the cloud unit. Zhang, who took over as Alibaba CEO in 2015, will remain involved with the company through a technology fund and will be given the title of "Aliren Emeritus". Alibaba plans to spin off Alibaba Cloud Intelligence Group under a separate management team.

via South China Morning Post|

#alibaba #business #cloud-unit

business2 years ago•3 min saved

Alibaba's Daniel Zhang Shocks with Cloud Business Departure

Daniel Zhang, the CEO of Alibaba Group, has unexpectedly stepped down from his role in the company's cloud business, just two months after announcing his departure as group CEO and chairman to focus on the cloud unit. Zhang had been concurrently serving in three roles, including heading the group and the cloud intelligence unit. The cloud unit, China's largest cloud provider, is set to be spun off from Alibaba as part of the company's restructuring. Eddie Wu will take charge of the cloud business after Zhang's departure. Alibaba aims to complete the public listing of its cloud unit within the next 12 months.

via Reuters|

#alibaba #business #cloud-business

finance2 years ago•1 min saved

Alibaba undergoes major leadership overhaul with new CEO Eddie Wu.

Alibaba shares have fallen by 2.13% due to the announcement of Eddie Wu succeeding Daniel Zhang as CEO and Joe Tsai taking Zhang's place as chairman. Additionally, several Chinese stocks have also fallen after China's central bank made cuts to its one-year loan prime rate and five-year rate to stimulate the country's economic recovery.

via Benzinga|

#alibaba #chinas-central-bank #chinese-stocks

business2 years ago•0 min saved

Alibaba undergoes major leadership shake-up with new CEO and chairman.

Alibaba has announced a management shake-up that will see CEO Daniel Zhang replaced by company veteran Lucy Peng. Zhang will become executive chairman, succeeding Jack Ma, who will step down next year. The move comes as Alibaba faces increased competition in the e-commerce sector and scrutiny from Chinese regulators.

via Financial Times|

#alibaba #business #daniel-zhang

business2 years ago•1 min saved

Alibaba announces surprise CEO and Chairman succession plan.

Alibaba's chairman and CEO, Daniel Zhang, will step down from his role as chairman and be replaced by Joseph Tsai, an Alibaba veteran and executive vice chairman. Eddie Wu, chairman of Taobao and Tmall Group, will become CEO. The changes will take effect on September 10th. This leadership shake-up comes just a few months after Alibaba split itself into six divisions, with each division under the leadership of an independent CEO.

via The New York Times|

#alibaba #business #daniel-zhang

business2 years ago•1 min saved

Eddie Wu named new CEO of Alibaba in surprise succession plan.

Eddie Wu, one of Alibaba's co-founders and current chairman of Taobao and Tmall Group, will succeed Daniel Zhang as CEO of Alibaba Group, while Joe Tsai will take Zhang's place as chairman. Zhang will continue to lead the Alibaba Cloud Intelligence Group. This surprise succession announcement comes after Alibaba said in March it will split its company into six business groups.

via CNBC|

#alibaba #business #ceo-succession