Alibaba replaces longtime chief Daniel Zhang in management shake-up

Alibaba’s longtime leader Daniel Zhang is being replaced as chief executive and chair of the Chinese ecommerce giant, as the group races to reinvent itself by splitting into six separate entities.

Eddie Yongming Wu, the chair of Alibaba’s flagship ecommerce sites Taobao and Tmall, will replace Zhang as chief executive in September, the company announced on Tuesday. Alibaba co-founder and vice-chair Joseph Tsai will fill Zhang’s position as chair of the board.