Alibaba CEO Stepping Down, Billionaire Joseph Tsai Named as New Chairman

Alibaba CEO Stepping Down, Billionaire Joseph Tsai Named as New Chairman
The logo of Alibaba Group is lit up at its office building in Beijing, China, on Aug. 9, 2021. Tingshu Wang/Reuters
Katabella Roberts
Updated:
0:00

Chinese e-commerce company Alibaba is replacing Daniel Zhang as chairman and CEO, the tech giant announced on June 20, following a slowdown in sales and mass layoffs.

In a news release, the company said that Joseph Tsai, its current executive vice chairman, will step into the role of chairman on Sept. 10, after which Zhang will continue to lead Alibaba Cloud Intelligence Group as its chairman and CEO.

Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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