As Alibaba Group goes through major organizational shift recently, Daniel Zhang Yong, who has been the Group’s CEO from 2015, is stepping down from his roles as the group’s CEO and Chairman, to focus exclusively on Alibaba Cloud.

Eddie Yongming Wu, the current chairman of Taobao & TMall, Alibaba’s e-commerce arm, will become CEO of the group, while Joseph Tsai, the company’s current vice president, will take the chairman position of Alibaba Group. Daniel Zhang will remain the CEO and chairman of Alibaba Cloud.

The changes will take effect on September 10.

Alibaba Group Holding Limited has recently made significant key leadership changes within the company. In a message shared on Alibaba's official Weibo account, Zhang revealed that the company's self-transformation is progressing smoothly. Alibaba’s new business model, known as 1+6+N, is taking shape, with operational boards of directors for each business group. Additionally, several business units have initiated plans for listing and financing.

Zhang also disclosed that the complete spin-off of Alibaba Cloud Intelligence Group has been initiated and is in a critical phase of upward development. According to the Weibo post, Zhang Yong attributed his decision to step down from his positions as Chairman and CEO of Alibaba Group to “ensuring maximum dedication and adapt to future development standards”.