Alibaba reshuffles top team again as ecommerce market share falls

Alibaba has once more shaken up its high administration workforce because it tries to chart a brand new course after it reversed key planks of its formidable restructuring plan. 

Alibaba chief government Eddie Yongming Wu has taken over as head of the ecommerce enterprise unit, a shakeup that comes as the net large has been shedding market share to PDD Holdings and ByteDance’s Douyin. 

Wu took over in September, and on the identical time assuming a task as head of the cloud enterprise, overturning a succession plan for departing group CEO Daniel Zhang to move up that unit. 

Wu is changing longstanding Alibaba government Trudy Dai as the pinnacle of Taobao and Tmall, the nation’s largest on-line procuring platforms.

Dai will assist type a brand new asset administration firm, Alibaba stated.