Shulou(Shulou.com)12/24 Report--

Thanks to CTOnews.com netizen Mr. Aviation, LittleLuck for the clue delivery! CTOnews.com December 20 news, Alibaba Group announced today, Alibaba Group CEO, Taotian Group Chairman Wu Yongming concurrently Taotian Group CEO.

Since then, Wu Yongming will serve as the CEO of Alibaba Group, Taotian Group and Alibaba Cloud Intelligent Group at the same time, ensuring that the Group focuses on core strategic e-commerce and cloud, forming unified dispatching command and continuous investment under high pressure.

▲ The former CEO of Alibaba Group Dai Shan will assist in the establishment of Alibaba Group Asset Management Company, which is a new business function after Alibaba's transformation.

CTOnews.com learned from Alibaba's official website that Wu Yongming has been Alibaba's CEO and director since September 2023. Wu Yongming is one of Alibaba's founders and a partner of Alibaba. He has been Chairman of Taotian Group since May 2023.

At the beginning of Alibaba's establishment in 1999, Wu Yongming served as technical director. Since December 2004, he has served as chief technology officer of Alipay, director of Alibaba's monetization platform Alibaba Mom Business Department in November 2005, and promoted to general manager of Alibaba Mom since December 2007. In September 2008, he became the Chief Technology Officer of Taobao and since October 2011 has been the head of Alibaba Group's search, advertising and mobile business. Wu Yongming served as a director of Alibaba Health Information Technology Co., Ltd., a company listed on the Main Board of the Hong Kong Stock Exchange, from April 2015 to October 2021, and served as the chairman of Alibaba Health from April 2015 to March 2020. From September 2014 to September 2019, Wu Yongming served as Special Assistant to the Chairman of Alibaba Group Board of Directors.

CTOnews.com with Ali full letter content:

The only constant is change, let's ignite the spirit of re-entrepreneurship!

Ali people,

A new round of technological change has begun, which is a challenge but also an opportunity. A new era requires a new strategic and organizational system change. Facing the past, facing the future and changing myself, I believe Alibaba, which has experienced this round of change, has completed its transformation as it has done before.

I hereby announce that the board of directors of Alibaba Group has decided after discussion:

In order to promote efficient strategic coordination and high-intensity resource investment in relevant sectors of the Group's core e-commerce business, Wu Yongming, CEO of Alibaba Group and Chairman of Taotian Group, will concurrently serve as CEO of Taotian Group.

In order to optimise return on capital and enhance shareholder value, the Group Capital Management Committee authorised the establishment of an asset management company. Dai Shan will assist the Group in establishing Alibaba Group Asset Management Company and forming a professional management team.

Wu Yongming took over as CEO of Alibaba Group for three months, clarified the strategic focus and priority selection of the whole group, made a firm choice around the main business, and comprehensively promoted the rejuvenation reform of the management team. Wu Yongming is also the No.1 position of Alibaba Cloud and Taotian, which will help lead the transformation of Taotian with technological innovation and help ensure the unified command and high-intensity continuous investment of the Group in the two strategic focuses of e-commerce and cloud. Next, we will fully activate the young management team that has been trained at the grassroots level to create an innovative environment for young people.

As a member of Alibaba's 18 founding teams, Dai Shan has been struggling in the front line of the company for more than 20 years and has paid great efforts for the establishment and growth of the company. In the process of Taotian Group's comprehensive return to users, Internet and omnipotent Taobao, Dai Shan completed her mission. The preparatory group asset management company is a new business function after Ali's transformation, which requires pioneering spirit and strong organizational structure ability. Dai Shan will give full play to her expertise and continue to create value for the company.

The above adjustments take effect immediately.

Let's start the process of re-starting our business together. In the future, we will be proud of today's change. Ali people come on!

Cai chongxin

Alibaba Group Chairman

20 December 2023

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