Alibaba announced that as the group's "1+6+N" market strategy takes shape, there will be corresponding adjustments to the management team. Among them, Zhang Yong, the original chairman and CEO of Alibaba, will step down on September 9 this year, and will then be responsible for the split-off independent Alibaba Cloud-related businesses. As for Alibaba's new chairman of the board, it will be taken over by Joseph Tsai, the former executive vice chairman of Alibaba, and the CEO will be taken over by Wu Yongming, who originally led the Taobao and Tmall businesses.
Following his retirement as Alibaba CEO, Daniel Zhang will fully focus on Alibaba Cloud's business development and drive its cloud intelligence strategy and digital transformation. Following this personnel restructuring, Daniel Zhang will continue to serve as Chairman and CEO of Alibaba Cloud, while Wu Yongming will continue to serve as Chairman of Taotian.
In March of this year, Alibaba Group announced its full transition to a "3+1+N" holding company management model, considered "the most significant organizational transformation in Alibaba Group's 6 years." In May of this year, Alibaba Group announced the board compositions of its six major business groups and approved the spin-off and financing plans for individual business groups. These included the full spin-off of Alibaba Cloud Intelligence Group, the initiation of IPO exploration for Cainiao Group, the initiation of the IPO process for Hema, and the approval for Alibaba International Digital Commerce Group to begin exploring external financing.
From now until September 9th of this year, Joseph Tsai and Wu Yongming will continue to work closely with Daniel Zhang to refine the "10+1+N" management model. Regarding Alibaba's newly established Capital Management Committee in May, the incoming senior management team will also work closely with the Alibaba Board of Directors on capital management and compliance under the new corporate governance structure.
