Alibaba CEO and chairman Daniel Zhang announced Tuesday that he will step down from those positions in order to focus attention on the Chinese e-commerce company’s cloud division.
The on-line retailer giant will now be split into six business units, he added.
Zang’s CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba’s Taobao and Tmall Group, while executive vice chairman Joseph Tsai will become Alibaba’s new chairman.
Both appointments are slated to take effect as of Sept. 10.
