Alibaba Group Appoints Eddie Wu As New CEO: CNBC

In a significant leadership reshuffle, Alibaba Group BABA has announced that Eddie Wu, one of the company’s co-founders and current chairman of Taobao and Tmall Group, will succeed Daniel Zhang as CEO, CNBC reports.

Leadership Transition: Wu’s appointment as CEO is part of Alibaba’s succession plan. The transition is set to take effect on Sept. 10.

Get Started

Earn 7.2% — No Matter What the Fed Does

Markets expect rate cuts — but your earnings don’t have to suffer. Lock in 7.2% until 2028 from ten individual bonds.

Get Started

Zhang’s New Role: Post-transition, Zhang will continue to lead the Alibaba Cloud Intelligence Group, serving as its chairman and chief executive.

Hi, I am the Benzinga Newsbot! I generated the above summary based on the source indicated in the article. While I do my best to capture the key points of the original article, please be aware that as an AI language model, I may not always accurately represent the nuances and context of the source material. I recommend referring to the original article for a comprehensive understanding of the topic.