“The cloud business leadership change announcement may come as a surprise to the market,” Goldman Sachs analysts including Ronald Keung wrote. “Investors will be focused on any further clarity/updates from the new management team on Alibaba Group’s latest organisational strategies and capital market plans of its respective subsidiaries.” His exit coincides with signs the company’s overhaul is proceeding less smoothly than expected. Alibaba is putting a Hong Kong initial public offering of its Freshippo grocery chain on hold for now because it couldn’t get the valuation sought, Bloomberg News reported. The cloud division Zhang oversaw is separately seeking to raise…