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Alibaba e-commerce: former CEO Daniel Zhang leaves the group

11/09/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Le CEO of the Chinese e-commerce giant Alibaba, Daniel Zhang is considering leaving the group to join the management of the lucrative cloud computing division, which is now a separate entity.

Alibaba announced the biggest reorganization in its history in March. This platform provided for the division of the group into six distinct entities with the ambition of being able to list them separately on the stock exchange. Alibaba said in a statement to the Hong Kong Stock Exchange, where it is listed, that the company's board of directors expresses its deep appreciation to Zhang for his contributions to the Alibaba Group over the past 16 years

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On the first day of the group's new reorganization, its shares lost nearly 3.5% this morning. In addition to e-commerce and the cloud, Alibaba is active in logistics but also in media, entertainment and artificial intelligence

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