Alibaba says Daniel Zhang steps down from cloud business

[ad_1]

Daniel Zhang, chairman and chief executive officer Alibaba Group, said the company's financial year from April 2021 to March 2022 was impacted by the uncertainties around Covid, "new expectations" on China's internet sector and the "high frequency" of international geopolitical conflicts.

Wang Zhao | AFP | Getty Images

Alibaba Group said on Sunday that Daniel Zhang will step down as chairman and chief
executive officer of its cloud business.

Zhang had previously been concurrently serving in three roles, heading the group as well as its cloud unit.

He handed over the role of the group's CEO to Eddie Wu on Sunday, who will
also take charge of the cloud unit after Zhang's departure.

[ad_2] Source link https://worldnews2023.com/top-stories/alibaba-says-daniel-zhang-steps-down-from-cloud-business/?feed_id=308249&_unique_id=667f96249b2bd

Comments

Post a Comment

Popular posts from this blog

SBP raises key interest rate to 25-year high of 17%

Image
[ad_1] State Bank of Pakistan Governor Jameel Ahmad addresses a press conference in Karachi on January 23, 2023. — AFP KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) Monday raised the key interest rate by 100 basis points (bps), taking it to 17% — the highest since October 1997. In his maiden monetary policy press conference after assuming charge in August, SBP Governor Jameel Ahmad revealed that the committee has observed that “inflationary pressures are persisting and continue to be broad-based”. “If these remain unchecked, they could feed into higher inflation expectations over a longer than-anticipated period therefore the MPC stressed that it is critical to anchor inflation expectations and achieve the objective of price stability to support sustainable growth in the future,” he further explained. The central bank raised the benchmark interest rate by 100 basis points (bps) today taking the total increase to 750bps since January 2022 ...
Read more

Finance secretary summoned by ECP over non-provision of election funds

Image
[ad_1] Rs17 billion are urgently needed for holding general elections on February 8, sources say A security personnel stands guard at the headquarters of the Election Commission of Pakistan in Islamabad on September 21, 2023. — AFP Rs42bn allocated for polls in budget 2023-24. Ministry has given Rs10bn to ECP so far. ECP says Rs17bn are urgently needed for polls. As the general elections in Pakistan are swiftly approaching D-day, the Election Commission of Pakistan (ECP) has revealed concerns regarding the non-provision of funds by the government. Geo News learnt from sources that the electoral body has summoned the finance secretary after the ministry was irresponsive regarding the provision of funds, allocated for the polls, in the budget. The development comes as Pakistan is preparing for general polls scheduled to take place on February 8, 2024. The government, as per the sources, had allocated Rs42 billion for the general elections in the current financial year's bu...
Read more

Real Housewives of Beverly Hills couple Kyle Richards and Mauricio Umansky ‘seperate’

Image
[ad_1] Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Real Housewives of Beverly Hills ’ Kyle Richards and Mauricio Umansky have reportedly separated after 27 years of marriage. Richards joined the popular Bravo reality series in 2010 with Umansky making regular appearances over the last 13 years. “Kyle and Mauricio have been separated for a while now but are still living under the same roof. They remain amicable as they figure out what’s next for them and their family,” a source confirmed to People on Monday (3 July). The separation will affect both Real Housewives , which is gearing up for its 13th season, and the Netflix reality series Buying Beverly Hills, which follows Umansky’s real estate business as two of their daughters work as agents. Richards has already filmed the second season of the Netflix show, according to Deadline . The I...
Read more