Chinese e-commerce giant Alibaba Group revealed chairman and CEO Daniel Zhang will step down to focus on its cloud division, with his current role to be split between two senior executives.
In a stock market filing, Alibaba said executive vice chairman Joseph Tsai will take over as chairman, while Taobao and Tmall Group chairman Eddie Wu will become CEO, both effective on 10 September.
Wu is a co-founder and will replace Zhang on the board.
Zhang will remain chairman and CEO of Alibaba Cloud Intelligence Group.
Alibaba thanked Zhang for his years of leadership in “navigating unprecedented uncertainties” affecting the company’s business “over the past few years”.
The company revealed plans to list its cloud business last month.
After it laid out plans in March to split into six independent units, Zhang said the move was designed to boost competitiveness through increased independence.