{"id":59505,"date":"2023-09-11T08:13:03","date_gmt":"2023-09-11T12:13:03","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/alibabas-zhang-steps-down-from-cloud-unit-the-stock-is-falling-in-hong-kong\/"},"modified":"2023-09-11T08:13:06","modified_gmt":"2023-09-11T12:13:06","slug":"alibabas-zhang-steps-down-from-cloud-unit-the-stock-is-falling-in-hong-kong","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=59505","title":{"rendered":"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

Shares of
\n Alibaba
\n Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business.<\/p>\n

Zhang was due to stand down as CEO on Sunday to focus on the cloud unit. Eddie Wu, his successor as CEO, will now also oversee the cloud business as well. The unit is China\u2019s largest provider of cloud computing services and is set to be spun off as the company separates into six parts.<\/p>\n

\n

Reuters and the South China Morning Post reported Zhang\u2019s departure on Sunday, citing an internal memo at the company. Alibaba didn\u2019t immediately respond to a request for comment from Barron\u2019s<\/em>.<\/p>\n

Alibaba\u2019s Hong Kong-listed shares (ticker: 9988.HK) fell 2.7% on Monday. Its American depositary receipts were up 0.2% in premarket trading Monday.\u00a0<\/p>\n

Alibaba announced in June that Zhang would step down as CEO to lead the cloud unit as part of the company\u2019s breakup. He became Alibaba CEO in 2015 and added the chairman role in 2019.<\/p>\n

Alibaba said it would continue to execute the plan to spin off the Alibaba Cloud Intelligence Group and that it will invest $1 billion in a technology group run by Zhang.<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Alibaba Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business. Zhang was due to stand down as CEO on Sunday to focus on the cloud unit. Eddie Wu, his successor as CEO, will now also oversee the cloud business as […]<\/p>\n","protected":false},"author":1,"featured_media":59506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-59505","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAlibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Alibaba Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business. Zhang was\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=59505\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Shares of Alibaba Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business. Zhang was\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=59505\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-11T12:13:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-11T12:13:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694434384_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59505#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59505\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong.\",\"datePublished\":\"2023-09-11T12:13:03+00:00\",\"dateModified\":\"2023-09-11T12:13:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59505\"},\"wordCount\":227,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=59505#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59505\",\"url\":\"https:\/\/ifintechworld.com\/?p=59505\",\"name\":\"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-11T12:13:03+00:00\",\"dateModified\":\"2023-09-11T12:13:06+00:00\",\"description\":\"Shares of Alibaba Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business. Zhang was\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59505#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=59505\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59505#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong. | iFintechWorld","description":"Shares of Alibaba Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business. Zhang was","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=59505","og_locale":"en_US","og_type":"article","og_title":"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong. | iFintechWorld","og_description":"Shares of Alibaba Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business. Zhang was","og_url":"https:\/\/ifintechworld.com\/?p=59505","og_site_name":"iFintechWorld","article_published_time":"2023-09-11T12:13:03+00:00","article_modified_time":"2023-09-11T12:13:06+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694434384_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=59505#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=59505"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong.","datePublished":"2023-09-11T12:13:03+00:00","dateModified":"2023-09-11T12:13:06+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=59505"},"wordCount":227,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=59505#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=59505","url":"https:\/\/ifintechworld.com\/?p=59505","name":"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-11T12:13:03+00:00","dateModified":"2023-09-11T12:13:06+00:00","description":"Shares of Alibaba Group were falling on Monday after the company said former CEO Daniel Zhang was stepping down as head of the cloud business. Zhang was","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=59505#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=59505"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=59505#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Alibaba\u2019s Zhang Steps Down From Cloud Unit. The Stock Is Falling in Hong Kong."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59505"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59505\/revisions"}],"predecessor-version":[{"id":59507,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59505\/revisions\/59507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/59506"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}