Alibaba Group Holding Limited has surprised everyone by announcing the names of the company’s new chairman and chief executive (CEO). Since COVID-19, the company has been facing challenges on many fronts. While there has been a decline in the company’s market share, the company is also struggling to achieve rapid growth. Given this, the company has decided to change the top leadership.
Alibaba Announces New Chairman and CEO
The company said on Tuesday that Executive Vice Chairman Joseph Tsai had been made chairman. At the same time, e-commerce executive Eddie Yong will replace Zhang as the new CEO of the company.
Company Working On Restructuring Plan
Changes have been made in Alibaba’s top leadership at a time when the company has announced a six-point restructuring plan to achieve strong growth again. Under this plan, the company wants to achieve strong growth again in the coming times.
Know About The Alibaba Group
In the year 1999, under the leadership of Jack Ma, 18 people together founded the Alibaba Group. Jack Ma was an English teacher in the Hangzhou province of China. From the beginning, the founders of the company believed that with the help of the internet, small companies could perform very well in the future. Alibaba Group operates many types of business in today’s time.
