Daniel Zhang, the former chief of Alibaba Group, has made the decision to step down from his role leading the company’s cloud division, introducing a new layer of uncertainty to China’s largest e-commerce company. This development comes just months after Zhang had agreed to take charge of the cloud division.
The news of Zhang’s departure from the cloud division was revealed in an internal memo, as reported by Bloomberg on Sunday. Prior to this, Zhang had relinquished his dual roles as CEO and chairman, which were taken up by Eddie Wu and Joseph Tsai, respectively. Wu and Tsai are close confidants of Alibaba’s co-founder, Jack Ma, and assumed their positions on Sunday.
Zhang’s departure marks the conclusion of an illustrious tenure during which Alibaba emerged as China’s largest company and expanded into various new areas, including physical retail. An Alibaba representative has confirmed Zhang’s departure, and it has been announced that he will now oversee a $1-billion technology investment fund on behalf of Alibaba.
