Home Technology Cloud Alibaba names new chairman, CEO in surprise succession plan Executive vice chairman Joseph Tsai will rise to chairman while e-commerce executive Eddie Yong will replace Daniel Zhang as chief executive officer by Bloomberg June 21, 2023 Image credit: Getty Images Alibaba Group has announced a new chairman and chief executive, unveiling a surprise plan to replace Daniel Zhang. Executive vice chairman Joseph Tsai will rise to chairman while e-commerce executive Eddie Yong will replace Zhang as chief executive officer, the company said Tuesday. Zhang’s shock departure comes after the company announced a six-way restructuring to try and juice growth and create a family of standalone industry giants. He unveiled that grand vision after China’s e-commerce leader posted its third consecutive quarter of single-digit revenue growth, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. Read: Alibaba to build ChatGPT-like AI into meeting, messaging apps Tags Alibaba China New appointment Technology 0 Comments You might also like China bans export of rare earths processing tech over national security UAE consumers worried about application failure during holiday season: Report Oracle targets training 50,000 Saudis in AI, latest tech Abu Dhabi launches free Hala Wi-Fi across emirate