Chinese e-commerce giant Alibaba Group Holding Ltd. said Tuesday that Chairman Daniel Zhang will step down on Sept. 10 and be succeeded by Joseph Tsai, who currently serves as executive vice chairman.
Zhang will exclusively serve as chairman and CEO of Alibaba Cloud Intelligence Group, which handles cloud computing and artificial intelligence, the company said.
He assumed the chairmanship after Alibaba founder Jack Ma retired in 2019. Alibaba was founded in 1999 in Hangzhou in the eastern province of Zhejiang and has grown into one of the world's largest e-commerce businesses.
