Alibaba has again shaken up its top management team as it tries to chart a new course after it reversed key planks of its ambitious restructuring plan.
Alibaba chief executive Eddie Yongming Wu has taken over as head of the ecommerce business unit, a shakeup that comes as the online giant has been losing market share to PDD Holdings and ByteDance’s Douyin.
Wu took over in September, and at the same time assuming a role as head of the cloud business, overturning a succession plan for departing group CEO Daniel Zhang to head up that unit.
Wu is replacing longstanding Alibaba executive Trudy Dai as the head of Taobao and Tmall, the country’s biggest online shopping platforms.
Dai will help form a new asset management company, Alibaba said.