Alibaba's top management has adjusted again。

On December 20, Cai Chongxin, Chairman of the Board of Directors of Alibaba Group (hereinafter referred to as "Ali"), issued a full letter.。The letter mentions that Ali CEO and Tao Tian Group Chairman Wu Yongming will concurrently serve as Tao Tian Group CEO。At the same time, Dai Shan, the former CEO of Amoy Group, will assist the Group in preparing for the establishment of Alibaba Group Asset Management Company and the formation of a professional management team.。

After this adjustment, Wu Yongming will take on multiple roles, while serving as CEO of Alibaba Group, Amoy Group and Alibaba Cloud Intelligence Group.。

As to why Wu Yongming should be the CEO of the three groups at the same time, Cai Chongxin explained in an internal letter, "Wu Yongming took over as CEO of Ali Group for three months, clarifying the strategic focus and priority choices of the whole group, making resolute trade-offs around the main business, and comprehensively promoting the reform of a younger management team.。"

Cai Chongxin said that giving up the top spot of Ali's two major business groups to Wu Yongming, which "will help lead the transformation of Amoy with technological innovation, and help ensure the group's unified command and high-intensity continuous investment in the two strategic priorities of e-commerce and cloud."。"

In the future, Ali will fully activate the young management team that has been trained and emerged at the grassroots level to create an innovative environment for young people.。

It is reported that Amoy Group is Ali's traditional business unit, which owns Taobao, Tmall, Tmall Supermarket, Tmall International, Taobao Live, Amoy Vegetable, Amoy, Idle Fish, 1688 and other businesses.。According to Alibaba's third-quarter earnings data, Amoy Group's business revenue reached 976.5.4 billion yuan, accounting for about 40% of the combined revenue of all segments, is Alibaba Group's business "big brother."。The cloud intelligence business group is a business group with potential for development within the group.。

Now, Wu Yongming is not only the CEO of the entire Ali, but also the CEO of such "one old and one new" two business groups, it is not difficult to see where Ali's main focus is next.。

Since the beginning of this year, Ali's top management has been adjusted many times。These adjustments can be interpreted as internal high-level target confusion, can also be interpreted as the company's "helm" constantly combing and timely adjustment, the specific situation, which remains to be seen.。

Ali is one of the top Internet technology giants in China, steering such a "behemoth" will inevitably require a lot of governance wisdom, Wu Yongming can lead Ali to a new height, still need time to test.。

Attached to the original text of Cai Chongxin's internal letter:

The only constant is change, let us ignite the spirit of re-entrepreneurship!

Dear Ali,

A new round of technological change opens, which is a challenge and an opportunity.。A new era requires a new strategic and organizational system change。Facing the past, facing the future, and changing yourself, I believe that Alibaba, which has experienced this round of change, has completed its transformation as much as any other time before.。

I hereby announce that the Board of Directors of Alibaba Group has decided after discussion:

In order to promote efficient strategic synergy and high-intensity resource investment in the Group's core e-commerce business-related sectors, Alibaba Group CEO and Tao Tian Group Chairman Wu Yongming will also serve as Tao Tian Group CEO.。

In order to optimize return on capital and enhance shareholder value, the Group Capital Management Committee authorized the establishment of an asset management company。Dai Shan will assist the Group in preparing for the establishment of Alibaba Group Asset Management Company and a professional management team.。

Wu Yongming took over as CEO of Ali Group for three months, clarifying the strategic focus and priority selection of the whole group, making resolute trade-offs around the main business, and comprehensively promoting the reform of the younger management team.。Wu Yongming, who is also the number one position of Alibaba Cloud and Taobao, will help lead the transformation of Taobao with technological innovation, and help ensure the group's unified command and high-intensity continuous investment in the two strategic priorities of e-commerce and cloud.。Next, we will fully enable young management teams that have been trained at the grassroots level to create an innovative environment for young people.。

As a member of Alibaba's 18 founding teams, Dai Shan has been struggling in the company for more than 20 years and has devoted great efforts to the establishment and growth of the company.。In the process of Amoy Group's full return to users, return to the Internet, and return to Universal Taobao, Dai Shan completed her mission.。Preparing for the group's asset management company is a new business function after Ali's transformation, which requires a pioneering spirit and strong organizational skills, and Dai Shan will give full play to her expertise to continue to create value for the company.。

The above adjustments will take effect from now on.。

Let's start the process of starting a new business together. In the future, we will be proud of today's changes. Come on, Ali people!

Cai Chongxin

Chairman of the Board of Alibaba Group

December 20, 2023