SHANGHAI, Sept 10 (Reuters) - China's Alibaba Group (9988.HK) said on Sunday that Daniel Zhang will step down from its cloud business, in a surprise move just two months after the company announced he would leave his roles as group CEO and chairman to focus on the cloud unit.
Zhang had previously been concurrently serving in three roles, heading the group as well as its cloud unit.
As scheduled, he handed over the role of group CEO to Eddie Wu on Sunday, who will also take charge of the cloud business after Zhang's departure, the company said in a statement.
"Following careful consideration, the Alibaba board respected and accepted Daniel's decision and appointed Eddie as acting chairman and CEO of Cloud Intelligence Group, effectively immediately."
Zhang will continue to contribute to Alibaba by "channeling his expertise differently," the letter added, saying that Alibaba will invest $1 billion in a technology fund that Zhang would establish.
Persons:
Daniel Zhang, Zhang, Eddie Wu, Alibaba, Daniel, Joseph Tsai, Eddie, Brenda Goh, Hugh Lawson, Sharon Singleton
Organizations:
HK, Sunday, Cloud Intelligence Group, Reuters, Thomson
Locations:
SHANGHAI