In a bold move to navigate the ever-evolving landscape of e-commerce and cloud computing, Alibaba Group is embarking on its most ambitious restructuring to date under the leadership of its new CEO, Eddie Wu. As the company faces challenges in a slowing Chinese economy and stiff competition, Wu is determined to revitalize Alibaba’s strategy by placing a strong emphasis on artificial intelligence (AI) and promoting younger talents to senior management positions.
China’s regulatory crackdown on its domestic tech sector continues as the People’s Bank of China (PBOC) fines Alibaba affiliate Ant Group a staggering 7.12 billion yuan ($985 million) for multiple violations of laws and regulations.
Alibaba Group, the Chinese tech giant, has announced that Joseph Tsai, the executive vice chairman and co-founder, will take over as chairman, succeeding Daniel Zhang. This leadership transition marks Alibaba’s second succession in just a few years, following the departure of founder Jack Ma in 2019.
According to a CNN report, the restructuring of Alibaba Group has caused a surge in shares of the conglomerate in both New York and Hong Kong. Investors…
Alibaba, the Chinese e-commerce giant, has announced its most significant reorganization in its history, which includes splitting the company into six business groups, each with its own CEO and board of directors.
After a year of uncertainty and rumors surrounding his whereabouts, Alibaba founder Jack Ma has returned to China.