Tsai Chongxin and Wu Yongming officially took over as chairman and CEO of Alibaba, and Zhang Yong was awarded the title of 'Outstanding Alibaba Person'

Tsai Chongxin, chairman of the board of directors of Alibaba Group, issued an all-staff letter on the evening of September 10, announcing that the handover of the group’s management positions had been completed as planned. Cai Chongxin took over as chairman of the group's board of directors, while Wu Yongming became the group's CEO. This means that Alibaba has successfully completed the second institutional handover of the company's management positions, and the 1 6 N self-reform launched in March this year is also progressing quickly and smoothly

On behalf of Alibaba Group, Tsai Chongxin spoke highly of and thanked Zhang Yong for his efforts and contributions to the company in the past 16 years with the words "remarkable achievements". . Alibaba’s board of directors accepted Zhang Yong’s request to step down as chairman and CEO of Alibaba Cloud. This position will be held concurrently by group CEO Wu Yongming. Alibaba will invest US$1 billion to support Zhang Yong in setting up a future-oriented technology fund, and will also award him the first honorary title of "Meritorious Ali Person" in Alibaba history.

Alibaba said that institutionalized inheritance is an important foundation for the company's steady development and the source of strength for the company's innovative development. It believes that the new management team can bring new vision and new increments to the company and lead Alibaba Discover and promote new technologies, incubate more innovative possibilities, and create greater value for society.

This site previously reported that on June 20, Zhang Yong, chairman and CEO of Alibaba Holdings Group, announced through an all-member letter that he would step down from his position as chairman and CEO of Alibaba on September 10 this year. Serves as Chairman and CEO of Alibaba Cloud Intelligence Group, focusing on the development of Alibaba Cloud. At the same time, with the approval of the board of directors of Alibaba Holding Group, Group Executive Vice Chairman Joe Tsai will serve as chairman of the board of directors of Alibaba Holding Group; Wu Yongming will serve as CEO of Alibaba Holding Group and will continue to serve as chairman of Taotian Group.

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

Dear Alibaba people,

According to Alibaba Group’s announcement on June 20th, Today we officially completed the handover of group management responsibilities. I will take over as Group Chairman and Wu Yongming will become Group CEO. Four years ago today, Mr. Ma handed over the baton of chairman to CEO Xiaoyaozi, which marked the first step in the centenary plan of our corporate inheritance system. Four years later, Xiaoyaozi handed the baton to Wu Yongming and me, and we will continue to carry forward Ali’s inheritance system. As Mr. Ma said four years ago, this is not only the handover of management positions, but also the inheritance of the system and the cornerstone of our 102nd year. Wu Yongming and I will stick to the mission and vision together with all Alibaba people and welcome the next stage of development

I am very grateful to Xiaoyaozi for his past efforts and contributions to Alibaba. He has been joining Alibaba for 16 years and has made very significant achievements. He founded Double Eleven, a world-famous global consumer carnival, led Tmall to develop rapidly, promoted the wave of comprehensive Internetization of brand enterprises, and led the team to successfully enter the wireless era for Alibaba, and has achieved success in multiple fields and globally. layout within. In the past four years, after Xiaoyaozi took over as chairman of the group, he faced many challenges such as fighting the epidemic and drastic changes in the external business environment. However, he led Ali to stabilize the overall situation and successfully overcome one difficulty after another

In March of this year, in order to better face the future, the company launched the largest-ever 1 6 N organizational change. With the joint efforts of Xiaoyaozi and his team, the entire transformation has been steadily advancing while the business continues to develop. So far, this change has basically taken shape and achieved initial results, laying an important foundation for the next stage of the company's development. With the smooth transition of the reform, Xiaoyaozi made a request to the group that he would step down as chairman and CEO of Alibaba Cloud. After careful consideration, the group's board of directors respected Xiaoyaozi's decision and appointed group CEO Wu Yongming to concurrently serve as chairman and CEO of Alibaba Cloud. The appointment is effective from now on. Xiaoyaozi will continue to work hard with us in Ali in a new way to welcome future development. The group decided to invest US$1 billion to support Xiaoyaozi in setting up a future-oriented technology fund to assist Alibaba in creating a better ecological environment in its future technology layout

In order to thank Xiaoyaozi for his huge contribution to the development of the company and outstanding contributions, after discussion among Alibaba partners, it was decided to award Xiaoyaozi the first honorary title of "Meritorious Alibaba Person" in the history of Alibaba!

Happy 24th birthday to Alibaba! Alibaba people, come on!

Tsai Chongxin is the chairman of Alibaba Group

2023.9.10

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