Alibaba Group Holding has announced that Joseph C. Tsai, currently executive vice chairman, will succeed Daniel Zhang as chairman, while chairman of Taobao and Tmall Group, Eddie Yongming Wu, will succeed Zhang as chief executive officer and take over his place on the company’s board of directors.
Both appointments will take effect on September 10.
Tsai joined in 1999 as a member of the Alibaba founding team and has served on the board of directors since the company’s inception.
As one of the company’s co-founders, Wu started out as technology director of Alibaba at the company’s inception in 1999. He has been in his current role since May this year.
