A major shake up happening at Chinese tech giant Alibaba
with a big announcement later today, Joseph Tsai will
replace Daniel Zhang as chairman and Eddie Wu will take
over as chief executive officer. Zhang will continue to
serve as chairman and CEO of Alibaba's cloud unit with
both new appointments taking effect as of this September.
This is the second time there has been a major
shake up at Alibaba that after co founder Jack Moss
stepped down back in 2019.