Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen lbzhh, Nai careful, artist Li Dading for the clue delivery! CTOnews.com June 20 news, According to Alibaba news, On June 20, Alibaba Holding Group Chairman and CEO Zhang Yong announced through a full letter that Ali's self-transformation is progressing smoothly, 1+6+N brand-new business clusters have basically taken shape, the boards of directors of various business groups have started operation, the listing and financing plans of several businesses have also been launched, and the Holding Group will mainly assume the role of innovation incubation base. Alibaba as a whole is heading into the future with a new attitude.

At the same time, Zhang Yong announced that Alibaba Cloud Intelligent Group has been completely separated and is in the most critical period of upward development, so it must be fully engaged. At the same time, in order to adapt to future development norms and requirements, it is not appropriate for him to serve as chairman and CEO of both companies at the same time. With the approval of Alibaba Holding Group's board of directors, Zhang Yong will step down as chairman and CEO of Alibaba Holding Group on September 10 this year. Zhang Yong will serve full-time as Chairman and CEO of Alibaba Cloud Intelligent Group, focusing on the development of Alibaba Cloud, continuously improving Alibaba Cloud's industry competitiveness and global competitiveness, and enabling Alibaba Cloud to provide better quality, safe and convenient basic services for the digital intelligence upgrading of various industries, especially small and medium-sized enterprises.

At the same time, approved by the board of directors of Alibaba Holding Group, Cai Chongxin, executive vice chairman of the group, will serve as chairman of the board of directors of Alibaba Holding Group; Wu Yongming will serve as CEO of Alibaba Holding Group and continue to serve as chairman of Taotian Group.

Alibaba said that in the future, Alibaba Holding Group will not only strongly support and coordinate the development of various business groups, but also become the discoverer and promoter of new technologies, the base camp for innovative business incubation, and create more value increments. Cai Chongxin and Wu Yongming have the corresponding vision, experience, influence and appeal, and are the best choices to undertake the above responsibilities.

Ali revealed that Cai Chongxin is currently the executive vice chairman of Alibaba Group and has always played an important role in the birth and development of Alibaba. He served as CFO of the group from its founding in 1999 to 2013, and led the company's IPO in New York in 2014, after which he was responsible for strategic investments. His global experience and insight into the macro environment are strong support for Alibaba to further promote internationalization; his full understanding of Alibaba's development process, grasp of strategic direction and inheritance of culture will help Alibaba Group continue to develop in the future.

Wu Yongming has a deep technical background. He once served as the chief technology officer of many important businesses such as B2B, Taobao, Alipay, etc., led the construction of the underlying technical structure of relevant businesses; led the establishment of Alibaba Mom Platform, the core business of the Group, innovated and incubated mobile phone Taobao, promoted the wireless of the Group, and had strong appeal in the company. He has been following the development of global cutting-edge technology trends for many years, which will further broaden Ali's technical vision and explore a new direction with cutting-edge technology as the development engine.

In addition, Cai Chongxin and Wu Yongming have many years of investment and enterprise cultivation experience, and have successfully cultivated a large number of scientific and technological innovation products and enterprises with unique competitiveness. In the future, Alibaba Holding Group will become a future-oriented innovation incubator, exploring, discovering, incubating and cultivating more innovative businesses, and reconstructing the company's development form and imagination space.

"Over the past 24 years, Alibaba has been innovating and iterating in self-transformation, adjusting production relations and maximizing productivity and innovation. And every proactive change facing the future has brought Alibaba a new pulse of development. The biggest self-transformation in history, which began in March, is making the whole organization more agile, with shorter decision-making links and faster response, forcing entrepreneurship to burst out, from an Alibaba to a group of Alibaba, from good generals to entrepreneurs. "Ali said.

Ali also stressed that what changes is the governance system, and what remains unchanged is the initial heart. We hope to create more customer value and social value in the digital economy era through our own transformation, so that more people can share the dividends of digital economy development and find their own opportunities and values.

CTOnews.com Attached: Zhang Yong, Chairman and CEO of Alibaba Group, sent a letter to all Ali people on June 20.

Since I became CEO of Alibaba Group in May 2015, I have written to you several times a year. Perhaps everyone is used to it. When you see my letter to all employees, you know that there are important changes to take place in the company. Today I write to you again, bringing you an important change about myself.

Since the announcement of the "1+6+N" organizational reform of the Group in March this year, all work has been progressing smoothly and orderly. We announced the composition of the boards of directors of each business group at the time of last quarter's earnings release, and each board has already started functioning. We also announced several plans for various business groups and business units, including the complete spin-off of Cloud Intelligence Group from Alibaba Group, the launch of Cainiao Group and Box Horse, independent financing of overseas digital business groups, etc. Alibaba as a whole is heading into the future with a new attitude.

As we all know, the development of core technologies such as cloud computing, big data and artificial intelligence will bring great changes to society, which is of great strategic significance. At present, the complete spin-off of Cloud Intelligence Group has started and is at the most critical moment, which requires that we must devote ourselves to it. At the same time, considering the requirements of standardized governance of the company during the spin-off process, I personally should not serve as the chairman and CEO of the two groups at the same time. Therefore, Alibaba Group's Board of Directors discussed and accepted my request: effective September 10, 2023, I will no longer continue to serve as Chairman and CEO of Alibaba Group's Board of Directors and concentrate on my full-time work as Chairman and CEO of Alibaba Cloud Intelligent Group. At the same time, Alibaba Group's board of directors decided that Joe C. Mr. Tsai will succeed me as chairman of Alibaba Group's board, and Eddie Yongming Wu will succeed me as CEO. Both of them are founders and partners of Alibaba. Both of them have made important contributions to the historical development of Alibaba Group. Both of them have rich experience and believe that under their leadership, the company can move towards a more brilliant future.

This change is the beginning of a new phase, a new journey, not only for the company but for me personally. How time flies. This is my sixteenth year in Ali. I have been with you for 16 years, especially since I took over as CEO of the Group in 2015 and Chairman of the Board of Directors of the Group in 2019. It is precisely because of your trust, support, encouragement and tolerance that I have been fully engaged in this position that I never imagined. I sincerely thank and thank you for this. Over the past 16 years, due to the opportunities of social progress and market development, I have had the honor to witness the historical stage of Alibaba's rapid development together with you, and participated in a lot of life from scratch, from small to large, benefiting ordinary people, benefiting the digitalization process of enterprises and benefiting the beautiful creation of society; together with you, we have withstood the challenges of the new crown epidemic and various tests brought about by changes in the external environment in the past three years. No matter good or bad, we not only grow together, experience together, spend together, but also harvest a lot of friendship and friendship more precious than career.

Over the past 24 years, we have had many such moments of self-transformation. Now we are all standing together at a new starting point, opening a new stage of development through self-transformation and opening up the future. I believe that everyone will support Joe and Wu Yongming and other new senior students in their work. Everyone can find their own stage and career, and finally contribute to society, achieve the company and achieve themselves. I will also stand on a brand-new stage with my classmates of Cloud Intelligence to explore the brand-new technologies of cloud computing, big data and artificial intelligence to serve the huge prospect of digitalization and intelligence of thousands of industries. I am full of longing and expectation for this.

Green hills do not change, green water flows, create a new Jianghu, meet again, Ren Xiaoyao!

Zhang Yong (Xiaoyao Zi)

Chairman and CEO of Alibaba Group

Chairman and CEO of Alibaba Cloud Intelligent Group

20 June 2023

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