Eddie Wu News

Chinese e-commerce company Alibaba Group Holding on Tuesday posted a greater-than-expected decline in profit for the fourth quarter due to its equity investments, sending its stock price plunging in New York

Chinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC's Emily Tan in an exclusive interview Friday.

China's Alibaba Group says its CEO Eddie Wu will head its core e-commerce business, as the company seeks to drive growth and fend off fast-growing online shopping rivals like Pinduoduo

BEIJING — Alibaba Group CEO Eddie Wu is taking over the top role at the company's Taobao and Tmall e-commerce business, replacing Trudy Dai in the Chinese internet tech giant's latest management shakeup this year.

Alibaba Group CEO Eddie Wu will take over as chief executive of Taobao and Tmall Group, Alibaba's domestic e-commerce arm, effective immediately, the company said on Wednesday. Wu, who has been Group CEO since September, also took over from previous head Daniel Zhang as the company's cloud business CEO that month. The latest appointment means Wu now leads the overall group as well as its two most important business divisions — cloud and domestic e-commerce.

Alibaba Group has scrapped plans to spin-off its cloud business, citing uncertainties created by US export curbs on chips used in artificial intelligence applications. The U.S.

(Reuters) -China's Alibaba (NYSE:BABA) Group Holding said on Thursday it will scrap the spin off of its cloud unit in response to export curbs by the United States on chips used in artificial intelligence applications.

Chinese e-commerce company Alibaba says it will spin off its logistics arm, Cainiao Smart Logistics Network, in an initial public offering in Hong Kong

Alibaba Group Holding Ltd. (NYSE:BABA) is placing a strong emphasis on artificial intelligence (AI) and user experience under the leadership of new Chief Executive Officer Eddie Wu.

By Casey Hall

The former CEO of Alibaba has resigned as head of its cloud computing business in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle

An unexpected twist to Alibaba’s changing of the guard—and a drip feed of other bad news—has undermined the bullish sentiment surrounding the Chinese e-commerce giant earlier this year. And given how China-adverse investors have become, it may be tough to reverse that without an all-clear for the economy more broadly—especially since Alibaba executives may be tempted to slow-walk restructuring plans as long as China’s stock markets remain in the doldrums. Alibaba’s Hong Kong-listed shares fell 3% Monday in the wake of two potentially significant developments: a report from Bloomberg, citing sources, that the firm would put on hold a potential IPO of its Freshippo grocery chain, and a surprise personnel change.

Zhang quit just two months after concentrating his focus on cloud computing, raising concern over the unit's spin-off plan and possibility of discord at the top. New group CEO Eddie Wu will concurrently become acting CEO and chairman of a unit grappling with weak sales growth ahead of an initial public offering (IPO) penned for next year. «We have mixed thoughts on this news,» said Morningstar analyst Chelsey Tam in a client note. «We think this latest change was not planned back in June and there are concerns of disagreements among Alibaba's partners.» In June, Alibaba said Zhang would relinquish his group CEO role to focus on the cloud unit, the firm's number two money spinner. The Cloud Intelligence Group, valued at $41 billion to $60 billion earlier this year, is among five units Alibaba is spinning off as part of the biggest restructuring of its 24-year history. Alibaba said it will continue with its plan to spin off the cloud unit under a yet-to-be-appointed management team.

Alibaba Group Holding Ltd’s former chief Daniel Zhang has decided to quit just months after agreeing to lead its cloud division, introducing another layer of uncertainty to China’s largest e-commerce company just as it’s navigating a complicated breakup.

By Brenda Goh

Alibaba Group said on Sunday that Daniel Zhang will step down as chairman and chief executive officer of its cloud business. Zhang had previously been concurrently serving in three roles, heading the group as well as its cloud unit.

Alibaba has announced that crypto-friendly Joseph Tsai, currently Executive Vice Chairman, will replace eight-year veteran chief Daniel Zhang as the company's new Chairman.

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