Alibaba Group announced a surprise succession plan. According to the company’s succession plan, e-commerce executive Eddie Yongming Wu will succeed Daniel Zhang as CEO. Zhang will devote his full attention to the group’s cloud intelligence unit as soon as the succession plan is implemented.

Zhang has been the CEO and chairman of Alibaba Group as well as the head of Alibaba’s cloud intelligence unit since December. According to the company statement, Executive Vice Chairman Joseph Tsai will succeed Zhang and ascend to the position of chairman.
This succession announcement follows the group’s decision to split the company into six business groups, which was announced in March of this year. Then, as part of one of the most significant reorganization plans in the company’s history, Alibaba explained that this move would allow each business group to seek outside funding for expansion and go public.

“Given the importance of Alibaba Cloud Intelligence Group, as it moves toward a full spin-off, this is the right time for me to make a transition.” “In the coming months, I look forward to working closely with Joe and Eddie to ensure a smooth transition,” Zhang said in a statement.

In a statement about Wu, Joseph Tsai stated that the former was instrumental in the development of the company’s technology-based platforms. Tsai went on to say that Eddie Wu was the driving force behind the creation of the primary monetisation platform on Taobao and Tmall.

“Eddie was instrumental in architecting our technology platforms and guiding our strategic direction as chief technology officer of key businesses including Taobao and Alipay during Alibaba’s critical phases of development,” he said. He oversaw the development of our proprietary monetization platform on Taobao and Tmall, as well as the launch of the Mobile Taobao App, which catapulted our company into the mobile-first era. I’m excited to collaborate with Eddie to catalyze our next phase of growth through technology and innovation.”

Eddie Yongming is a Chinese actor. Wu is a co-founder of Alibaba, a member of the Alibaba Partnership, and the chairman of Taobao and Tmall Group since May of this year. Wu was also the company’s technology director when it was founded in 1999. Jack Ma, a Chinese business magnate, is Alibaba’s other co-founder. Jack Ma vanished from public view in 2020 after being seen criticizing Chinese regulators. Since then, the mercurial business tycoon has been travelling outside of the country, making only sporadic appearances on the Chinese mainland.

Wu was Alipay’s chief technology officer from December 2005 until November 2007, when he was promoted to general manager of Alibaba’s monetisation platform Alimama. In September 2008, he was named Taobao’s chief technology officer, and in October 2011, he was named head of Alibaba Group’s search, advertising, and mobile businesses.
Wu was also the chairman of Alibaba Health from April 2015 to March 2020 and the director of Alibaba Health Information Technology Limited from April 2015 to October 2021. He worked as a special assistant to Alibaba Group’s board chairman from September 2014 to September 2019.

He founded Vision Plus Capital, a venture capital firm focused on investing in advanced technologies, enterprise services, and digital healthcare, in August 2015. In June 1996, he graduated from Zhejiang University of Technology’s College of Information Engineering.

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