Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle
HONG KONG (AP) — China’s Alibaba Group has announced a major management reshuffle as the e-commerce giant restructures into six different business divisions to adapt to fast-changing technologies.
The moves also are aimed at spurring growth at a time when the Chinese economy is slowing despite an end to COVID-19 pandemic restrictions a half-year ago.
Eddie Wu, chairman of its e-commerce group, will succeed Daniel Zhang as CEO, the company said in a statement Tuesday.