Alibaba's transformation is progressing smoothly. Zhang Yong is now dedicated to Alibaba Cloud, while Cai Chongxin and Wu Yongming have taken over as the group's chairman and CEO, respectively.

With the progress of Alibaba's transformation, personnel changes have also taken place.

On June 20th, Alibaba's board chairman and CEO, Zhang Yong, announced in a company-wide letter that he will step down as CEO on September 10th and focus on the development of Alibaba Cloud.

He will continue to serve as chairman of Taobao Group.

The following is an article from Alibaba's WeChat official account:

Today, Alibaba's board chairman and CEO, Zhang Yong, announced in a company-wide letter that Alibaba's self-transformation is progressing smoothly, the new 1+6+N business cluster is basically formed, the boards of directors of various business groups have begun to operate, and the listing and financing plans of multiple businesses have also been launched. The holding group will mainly undertake the role of innovation incubation base, and the entire Alibaba is moving towards the future in a new posture.

Zhang Yong also announced that the complete separation of Alibaba Cloud Intelligent Group has been launched and is in the most critical period of upward development, and must be fully committed. In order to adapt to future development norms and requirements, he should no longer serve as chairman and CEO of two companies at the same time. With the approval of Alibaba's board of directors, Zhang Yong will step down as Alibaba's board chairman and CEO on September 10th. He will then serve as chairman and CEO of Alibaba Cloud Intelligent Group, focusing on the development of Alibaba Cloud, continuously improving its industry competitiveness and global competitiveness, and providing better, safer and more convenient basic services for various industries, especially small and medium-sized enterprises.

At the same time, with the approval of Alibaba's board of directors, Cai Chongxin, the group's executive vice chairman, will become Alibaba's board chairman; Wu Yongming will become Alibaba's CEO and continue to serve as chairman of Taobao Group.

On June 20th, Zhang Yong, Cai Chongxin, and Wu Yongming officially started the handover.

In the future, Alibaba will not only support and coordinate the development of various business groups, but also become a discoverer and promoter of new technologies, an innovation incubation base, and create more value-added. Cai Chongxin and Wu Yongming have the corresponding vision, experience, influence, and appeal to be the best choice to undertake the above responsibilities. Cai Chongxin is currently the Executive Vice Chairman of the Alibaba Group and has played an important role in the birth and development of Alibaba. From the establishment of the company in 1999 to 2013, he served as the Group's CFO and led the company's strategic investment work after leading the company's listing in New York in 2014. His global experience and insight into the macro environment provide strong support for Alibaba's further internationalization. His full understanding of Alibaba's development history, grasp of strategic direction, and cultural heritage will help the Alibaba Group continue to develop in the future.

Wu Yongming has a deep technical background and has served as the Chief Technology Officer of several important businesses such as B2B, Taobao, and Alipay, leading the construction of the underlying technical architecture of related businesses. He led the creation of the group's core business, Alibaba Mama platform, innovated and incubated mobile Taobao, and promoted the group's wireless development, which has strong appeal within the company. He has been following the development of global cutting-edge technology trends for many years and will further broaden Alibaba's technological vision and explore new directions for development driven by cutting-edge technology.

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

For 24 years, Alibaba has always innovated and iterated in self-transformation, adjusted production relations, and maximized productivity and innovation. Each proactive change towards the future has brought Alibaba a pulse-like new development. The largest self-transformation in history, which began in March, is making the entire organization more agile, with shorter decision-making chains and faster response times, driving the eruption of entrepreneurial spirit and achieving a group of Alibaba from one Alibaba, from good generals to entrepreneurs.

What changes is the governance system, and what remains unchanged is the original intention. 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 economic development, find their own opportunities and value.