Alibaba says Daniel Zhang steps down from cloud business

SHANGHAI (Reuters) – Alibaba (NYSE:) 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.