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

Thanks to CTOnews.com netizen Gao Ting's Maomao and Mr. Aviation's clue delivery! CTOnews.com Sept. 10, tonight, Alibaba Group Chairman Cai Chongxin issued a full letter announcing that he had completed the transfer of group management duties on the same day as planned, he would take over as chairman of the group board of directors, and Wu Yongming would be appointed CEO of the group. This means that Alibaba has completed the second institutionalized handover of the company's management position, and the self-reform launched in March this year has progressed quickly and smoothly.

On behalf of Ali Group, Cai Chongxin spoke highly of and thanked Zhang Yong for his contribution and contribution to the company over the past 16 years. Alibaba's board of directors accepted Zhang Yong's request to step down as chairman and CEO of Aliyun, which will be held by Wu Yongming, CEO of the group. Alibaba will invest 1 billion US dollars to support Zhang Yong to set up a future-oriented science and technology fund and award him the first honorary title of "meritorious Ali" in Ali history.

Alibaba said that institutionalized inheritance is not only an important foundation for the company's steady development, but also a source of strength for the company's innovation and development. He believes that the new management team can bring new horizons and new increments to the company, lead Alibaba to discover and promote new technologies, incubate more innovation possibilities, and create greater value for society.

CTOnews.com previously reported that on June 20, Zhang Yong, chairman of the board of directors and CEO of Alibaba holding Group, announced through a full-staff letter that he would step down as chairman of the board of directors and CEO of Ali on September 10 this year, and would then serve full-time as chairman and CEO of Aliyun Intelligent Group, focusing on the development of Aliyun. At the same time, with the approval of the board of directors of Alibaba Holdings Group, Cai Chongxin, Executive Vice Chairman of the Group, will serve as Chairman of the Board of Directors of Alibaba Holdings Group; Wu Yongming will be appointed CEO of Alibaba Holdings Group, while continuing to serve as Chairman of Taotian Group.

The following is the full text of Tsai Chongxin's letter to Alibaba on September 10:

Dear Ali,

According to the announcement of Alibaba Group on June 20, we formally completed the transfer of the management position of the group today. I took over as chairman of the group, and Wu Yongming served as CEO of the group. Four years ago today, Mr. Ma handed over the chairman's baton to CEO Xiaoyaozi, starting the first step in an enterprise inheritance system that has been expected for a century. After a lapse of four years, Xiaoyaozi handed the stick into the hands of Wu Yongming and me to continue Ali's inheritance system. As teacher Ma said four years ago, this is not only the transfer of management positions, but also the inheritance of a system, which is the basis for us to move towards 102 years. Wu Yongming and I will stick to our mission and vision together with all Ali people to meet the next stage of development.

I am particularly grateful to Xiaoyaozi for his efforts and contributions to Ali in the past. He has made great achievements in the past 16 years since he joined Ali. He created the well-known global consumer carnival of Singles' Day, led Tmall's rapid development to promote the tide of brand enterprises' full Internet, led the team to enable Ali to leap smoothly into the wireless era, and led the group to carry out layout in many fields and around the world. After taking over as chairman of the group in the past four years, Xiaoyaozi faced many challenges such as fighting the epidemic and drastic changes in the external business environment. He led Ali to stabilize the market and tide over one difficulty after another.

In March this year, in order to better face the future, the company launched the biggest organizational change in 24 years. With the joint efforts of Xiaoyaozi and the team, the whole change advances steadily while the business continues to develop. so far, this change has basically taken shape and achieved initial results, which has laid an important foundation for the next stage of the development of the company. With the smooth transition of the reform, Xiaoyaozi proposed to the group that he would step down as chairman of Ali Yun and CEO. After careful consideration, the board of directors of the group respected Xiaoyaozi's decision and appointed Wu Yongming, group CEO, as chairman and CEO of Aliyun, effective from now on. Xiaoyaozi will continue to work with us in Ali to meet the future development in a different way. The group decided to invest 1 billion US dollars to support Xiaoyaozi to set up a future-oriented science and technology fund to help Ali create a better ecological environment for the future layout of science and technology.

In order to thank Xiaoyaozi for his great contribution and outstanding contribution to the development of the company, after discussion by Ali partners, Xiaoyaozi decided to award Xiaoyaozi the honorary title of "meritorious Ali" in the history of Ali.

I also wish Alibaba a happy 24th birthday! Come on, Ali!

Cai Chongxin, Chairman of Alibaba Group

2023.9.10

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