It is reported that Zhang Yong, former chairman of Alibaba Group, stepped down as chairman and CEO of Alibaba Cloud Intelligent Group on Sunday. In addition, Wu Yongming and Cai Chongxin officially succeeded Zhang Yong as CEO and Chairman of the Board of Directors respectively on Sunday.
On the evening of September 10th, Cai Chongxin, Chairman of the Board of Directors of Alibaba Group, issued a letter to all employees, announcing the successful completion of a new round of corporate inheritance. The organizational changes that began at the end of March have basically taken shape and achieved initial results.
A spokesman for Alibaba said in a statement that Alibaba co-founder Wu Yongming succeeded Zhang Yong as the acting chairman and CEO of Alibaba Cloud Intelligent Group.
In addition, Wu Yongming officially succeeded Zhang Yong as CEO of Alibaba on Sunday, and Cai Chongxin succeeded Zhang Yong as chairman of Alibaba’s board of directors, thus completing the leadership handover of Alibaba according to the plan announced in June. Cai Chongxin and Ma Yun, both co-founders, are close comrades in arms.
Alibaba is currently undergoing restructuring, splitting itself into several independent companies in order to enhance its flexibility and try to get its core e-commerce business back on the growth track in a highly competitive environment.
Alibaba is striving to get Alibaba Cloud Intelligent Group listed next spring. In terms of revenue, Alibaba Cloud Intelligent Group is the second largest business of Alibaba, second only to its domestic e-commerce business. In the quarter from April to June this year, Alibaba Cloud Intelligent Group’s revenue increased by 4%, which is the slowest growth rate among Alibaba’s six business groups. In the conference call after the earnings report was released, Zhang Yong blamed the decline in demand after the epidemic and the decline in demand from a major customer.
A spokesman for Alibaba said that it will appoint a management team for Alibaba Cloud Intelligent Group.
According to reports, Ali’s new CEO Wu Yongming issued a letter to all employees on Tuesday, establishing Ali’s two strategic priorities in the future: customer first and AI drive.
Wu Yongming said that Ali Group will increase strategic investment in three types of businesses: technology-driven Internet platform business, AI-driven technology business and global business network.
Wu Yongming said that the serious homogenization of the traditional Internet model has moved towards stock competition, and new technologies represented by AI artificial intelligence are becoming new kinetic energy for global business development.
Wu Yongming said that the serious homogenization of the traditional Internet model has moved towards stock competition, and new technologies represented by AI artificial intelligence are becoming new kinetic energy for global business development.
Post time: Sep-13-2023