Alibaba’s (NYSE:BABA) Hong Kong-listed shares fell 3% on Monday after the company said its outgoing CEO Daniel Zhang will also step down as chairman and head of its Cloud Intelligence unit.
Zhang had led the Alibaba (BABA) Cloud Intelligence division since 2022, the company said in a filing. Meanwhile, Joseph Tsai assumed the role of chairman of Alibaba (BABA) from Zhang, while Wu took over as CEO, as announced earlier.
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