Hong Kong CNN
Daniel Zhang, the outgoing chairman and CEO of Alibaba, has stepped down from his position running the companys cloud division in a surprise move announced just months after he assumed the pivotal role.
Alibabas stock tumbled 3% on Monday in Hong Kong following the announcement.
Zhang will now fully exit the Chinese tech giants core management team as it undertakes its biggest ever restructuring amid a worsening downturn in the worlds second largest economy.
Just three months ago, Zhang, 51, said that a key reason he wanted to step down as company chief was because he ne…
Read the full article at: https://edition.cnn.com/2023/09/11/tech/china-alibaba-leadership-overhaul-intl-hnk/index.html