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Alibaba shares slide 4% after former CEO quits cloud unit

September 11, 2023
Source: indianexpress.com indianexpress.com
News Snapshot:
Alibaba announced Daniel Zhang's decision to depart the unit in an internal letter to staff seen by Reuters, with co-founder Eddie Wu becoming the unit's acting CEO and chairman. (File image) The Hong Kong-listed shares of China’s Alibaba Group fell more than 4% on Monday after the surprise departure of former CEO Daniel Zhang from the technology giant’s cloud computing business. Alibaba announced Zhang’s decision to depart the unit in an internal letter to staff seen by Reuters, with co-founder Eddie Wu becoming the unit’s acting CEO and chairman. Zhang also handed over the role of group CEO to Wu...
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China Tech Buzz Topics: Alibaba | ARM | artificial intelligence | Business | CEO | chairman | chips | cloud | Cloud Computing | Computing | DAMO | Founder | Hong Kong | IT | online shopping | research | restructuring | Reuters | share | shares | staff | technology

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