Alibaba Group CEO to head its domestic e-commerce arm

Eddie Wu took over the baton to spearhead operations at AliBaba Group from Daniel Zhang, the successor of Jack Ma for eight years, to become the fourth Chief Executive Officer (CEO) of the Chinese-technology major in the firm's 24-year-old history. 

After taking over the multinational firm's operations in September, Eddie Wu said,"Times are changing and so must Ali Baba!". 

Wu had also taken over as the Chinese firm's cloud business CEO in the same month. 

The latest appointment means Wu now leads the overall group as well as its two most important business divisions, cloud and domestic e-commerce, boosting his direct control over the group's main businesses.

Eddie Wu, along with Joseph C Tai are one of 18 co-founders and long-time aids of former AliBaba Group Chief Jack Ma. In the Chinese-tech major's latest management change, Wu today took-charge of the company's Taobao and Tmall e-commerce business from Trudy Dai. 

The e-commerce business that bolstered Alibaba to success presently faces tough competition from players like PDD, meanwhile, China witnesses sluggish consumption growth. 

“Eddie’s leadership of both Alibaba Cloud and [Taobao and Tmall Group] will ensure total focus on, and significant and sustained investment in, our two core businesses of cloud computing and e-commerce, as well as enabling TTG to transform through technology innovation,” Joseph C Tai's letter said.