On June 20, Zhang Yong, Chairman of the Board and CEO of Alibaba Holdings Group, announced through a letter to all employees that he will step down as Chairman and CEO of Alibaba Holdings Group on September 10 this year, as agreed by the Board of Directors of Alibaba Holdings Group. Zhang Yong will thereafter serve full-time as Chairman and CEO of AliCloud Intelligence Group to focus on the development of AliCloud. Meanwhile, with the approval of the Board of Directors of Alibaba Holding Group, Chongxin Cai, Executive Vice Chairman of Alibaba Holding Group, will become Chairman of the Board of Directors of Alibaba Holding Group, and Yongming Wu will become CEO of Alibaba Holding Group, while continuing to serve as Chairman of Taotian Group.

来源：DIYuan