Alibaba founders Jack Ma, Joe Tsai appear in Hangzhou in show of confidence amid corporate reshuffling

Alibaba founders Jack Ma and Joe Tsai appeared at company offices in Hangzhou as the e-commerce giant announced Daniel Zhang’s departure as CEO and chairman

Co-founders Tsai and Eddie Wu are taking over as chairman and CEO, respectively, as Alibaba brings back old faces and seeks to regain competitive edge

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Alibaba founder and chairman Jack Ma (left) and CEO Daniel Zhang clap at the New York Stock Exchange Bell Ringing ceremony during Alibaba Group’s 11.11 Global Shopping Festival in Beijing on November 11, 2015. Photo: Reuters

Tracy Quin ShanghaiandAnn Caoin Shanghai

Published: 5:00pm, 21 Jun 2023Updated: 5:01pm, 21 Jun 2023

Founding team members of Alibaba Group Holding converged in Hangzhou on Tuesday, as China’s largest e-commerce firm showed a united front after its CEO and chairman announced plans to step aside to focus on the cloud business.

Alibaba co-founder Jack Ma and current CEO and chairman Daniel Zhang Yong appeared together at the office of Alibaba Cloud, which Zhang also heads. In photos and videos of the event, the two smiled while chatting over drinks and walking through the company’s campus. Ma, who no longer holds any corporate roles at Alibaba, has spent much of the past year overseas, largely in Japan, according to reports.

Alibaba Cloud did not respond to requests for comment. Alibaba owns the South China Morning Post.

Joseph Tsai, who is also a co-founder and set to take over for Zhang as chairman, also showed up at the Hangzhou headquarters of Cainiao Network, Alibaba’s logistics arm for which Tsai is currently chairman. Cainiao confirmed the visit. Tsai is chairman of the Post.

Joseph Tsai (left), who is chairman of Alibaba’s logistics arm Cainiao Network, visited Cainiao headquarters in Hangzhou on Tuesday. Photo: Handout

Zhang is preparing to step aside as CEO and chairman, positions he has held for eight and four years, respectively, amid a massive corporate restructuring that will see Alibaba split into six independently run entities. The groups are free to pursue their own fundraising, including through initial public offerings, which Alibaba Cloud is in the process of doing under Zhang’s leadership.

Through the leadership reshuffling, long-time associates of Ma, 58, are returning to top corporate roles at the tech giant.

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