Alibaba Names Tsai Chairman, Wu CEO in Surprise Shake-Up
- Joe Tsai becomes chairman while Eddie Wu will be the CEO
- The move comes as growth sputters in the post-crackdown era
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Alibaba Group Holding Ltd. is replacing eight-year veteran chief Daniel Zhang at the helm of a Chinese e-commerce leader bleeding market share and struggling to revive growth in the post-Covid era.
Executive Vice Chairman Joseph Tsai, a longtime confidant of billionaire co-founder Jack Ma, will take Zhang’s position as the chairman of the board. Eddie Wu, now chairman of Alibaba’s core Taobao and Tmall online commerce divisions, will take over as chief executive of the $240 billion company.