Alibaba announces new CEO chairman in major management reshuffle

HONG KONG --- China's Alibaba Group has announced a major management reshuffle aimed at spurring the e-commerce giant's 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. Zhang will be CEO and chairman of Alibaba's cloud computing unit, which has been approved to be spun off and is expected to be listed for trading within a year. Alibaba's current executive vice chairman, Joseph Tsai, is to succeed Zhang as chairman of the Alibaba Group. Tsai, who owns the NBA basketball team Brooklyn Nets, ...

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