In a surprise move, Zhang has resigned as head of Alibaba's Cloud Intelligence Group, after stepping aside from his position as chairman and CEO earlier this year.
In a surprise succession plan, Alibaba has announced a new chairman and chief executive to replace Daniel Zhang. The e-commerce major has been struggling to bounce back post-Covid.
The shake-up comes a day after founder Jack Ma made a rare public appearance in China.
Sources tell Campaign the reasons for the retreat have nothing to do with performance or competition from HKTVMall, but is instead part of the company's consolidating business strategy.
In the past year, Tung used the Alibaba brand as a beacon of strength and hope despite uncertainty around many events such as the Olympics and the 11.11 shopping festival.
HANGZHOU - In June, Alibaba Group will start allowing Taobao and Tmall merchants to bid in real-time for display advertising space within popular online video websites through the company’s Alimama online advertising exchange.
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