SHANGHAI (Reuters) – Alibaba Group announced on Sunday that Daniel Zhang will be stepping down as the chairman and chief executive officer (CEO) of its cloud business.
Prior to this announcement, Zhang had been fulfilling three roles simultaneously, leading both Alibaba Group and its cloud unit. On Sunday, Zhang handed over his position as CEO of the group to Eddie Wu, who will also assume control of the cloud unit after Zhang’s departure.
This leadership change marks a significant transition for Alibaba Group’s cloud business as it prepares to enter a new phase under Wu’s stewardship. The company has not disclosed the specific reasons behind Zhang’s decision to step down.
Under Zhang’s leadership, Alibaba Group’s cloud business has experienced substantial growth and expansion, establishing itself as a major player in the global cloud services market. Zhang’s contributions have been vital in enabling the company to compete effectively with other tech giants in this rapidly evolving sector.
Alibaba Group’s cloud business has become increasingly crucial to the overall success of the company, as the demand for cloud computing and related services continues to rise. The cloud unit offers a wide range of products and solutions, including infrastructure-as-a-service (IaaS), software-as-a-service (SaaS), and platform-as-a-service (PaaS), serving various industries and enterprises.
Eddie Wu, the newly appointed CEO of Alibaba Group, brings a wealth of experience and expertise to his new role. Prior to this appointment, Wu served as a key executive in the company’s cloud division, contributing significantly to its growth and strategic development.
Alibaba Group is confident that Wu will build upon the accomplishments of his predecessor, driving further innovation and growth for the cloud unit. The company remains committed to delivering world-class cloud services and strengthening its position as a leader in the global cloud computing industry.
This leadership transition comes at a time when Alibaba Group continues to face increasing competition and regulatory scrutiny in its home market of China. The company has been actively diversifying its revenue streams and expanding its presence globally to mitigate these challenges.
Alibaba Group’s cloud business will be closely monitored by industry observers as Wu assumes leadership and continues to navigate the rapidly evolving cloud services landscape.
Reporting by Brenda Goh; Editing by Hugh Lawson
Credit: The Star : Tech Feed
