Beijing Business Daily News (Reporter He Qian) On December 20th, Alibaba announced that Wu Yongming, CEO of Alibaba Group and Chairman of Taotian Group, will also serve as CEO of Taotian Group. From now on, Wu Yongming will concurrently serve as CEO of Alibaba Group, Taotian Group, and Alibaba Cloud Intelligent Group. Alibaba believes that this will help lead the transformation of Taotian through technological innovation, ensuring that the group focuses on core strategic e-commerce and cloud, forming a unified command and high-intensity continuous investment.
Meanwhile, Dai Shan, former CEO of Taotian Group, will assist in the establishment of Alibaba Group Asset Management Company. Alibaba Group Chairman Cai Chongxin stated in a letter to all members that Dai Shan has completed her mission in the process of Taotian Group's comprehensive return to users, return to the Internet, and return to Universal Taobao. Preparing for the Group Asset Management Company is a new business function after Alibaba's transformation, which requires a pioneering spirit and strong organizational structure capabilities. Dai Shan will fully leverage her expertise to continue creating value for the company.
The following is the full text of the letter from all staff:
"The only constant is change, let's ignite the spirit of starting a new business!"
Dear Ali people,
A new round of technological transformation is unfolding, which is both a challenge and an opportunity. A brand new era requires new strategic and organizational system changes. Facing the past, facing the future, and changing oneself, I believe that Alibaba, which has undergone this round of transformation, will complete its transformation just like any other time in the past.
I hereby announce that after discussion, the board of directors of Alibaba Group has decided:
In order to promote efficient strategic collaboration and high-intensity resource investment in the core e-commerce business sectors of the group, Wu Yongming, CEO of Alibaba Group and Chairman of Taotian Group, will also serve as CEO of Taotian Group.
In order to optimize the return on capital and enhance shareholder value, the Group's Capital Management Committee authorizes the establishment of an asset management company. Dai Shan will assist the group in establishing an Alibaba Group Asset Management Company and forming a professional management team.
Wu Yongming took over as the CEO of Alibaba Group for three months, clarifying the strategic focus and priority choices of the entire group, making resolute choices around the main business, and comprehensively promoting the reform of the management team's youthfulness. Having Wu Yongming concurrently serve as the number one position for Alibaba Cloud and Taotian will help to lead Taotian's transformation through technological innovation, and ensure the group's unified command and high-intensity continuous investment in the two strategic focuses of e-commerce and cloud. Next, we will fully utilize a young management team that has been trained and emerged at the grassroots level, creating an innovative environment for young people.
As a member of the 18 founding teams of Alibaba, Dai Shan has been working hard on the front line of the company for over 20 years, dedicating tremendous efforts to the establishment and growth of the company. In the process of Taotian Group's comprehensive return to users, return to the Internet, and return to Universal Taobao, Dai Shan has completed her mission. Preparing for the Group Asset Management Company is a new business function after Alibaba's transformation, which requires a pioneering spirit and strong organizational structure capabilities. Dai Shan will fully leverage her expertise to continue creating value for the company.
The above adjustments will take effect immediately.
Let's embark on the journey of starting a new business together. In the future, we will be proud of today's changes. Let's cheer for Alibaba people!
Cai Chongxin
Chairman of the Board of Directors of Alibaba Group
December 20, 2023