Source: Visual China
BEIJING, June 20 (TiPost) – Alibaba‘s founder Jack Ma has suggested refocusing on low-end online marketplace Taobao from TMaoll with accredited merchants during an internal meeting in May.
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During the meeting, Ma stated that the methodologies previously relied upon by Alibaba for success may no longer be effective and need to be swiftly changed. He highlighted three key directions for Taotian Group: refocusing on Taobao, prioritizing users, and embracing the Internet. Additionally, Ma emphasized the need for further organizational streamlining within the group.
According to reports, TaoTian Group CEO Dai Shan, three heads of the industry development department - Wang Hai, Liu Peng, and Liu Yiman - and Cheng Daofang from Taobao Livestreaming were present at the meeting. TaoTian Group CEO Li Bo and Cainiao Group CEO Wan Lin were also present.
According to several Alibaba employees, Ma believes that the group is currently facing a highly competitive situation. He cited Nokia and Kodak as examples of companies that fell from industry benchmarks to decline in as little time as six months to a year. He noted that such a decline can occur even more rapidly in the fast-paced Internet industry.
According to media reports, Zhang Yong, the Chairman of the Board and CEO of Alibaba Group, may step down from his current position in order to concentrate on the future business development of Alibaba Cloud. The report came shortly after Alibaba’s “1+6+N” restructuring, which has led to a clearer governance structure within the company. It is speculated that Zhang may no longer serve as the group’s Board Chairman and CEO, with a focus on advancing the Alibaba Cloud business. Joseph Tsai reportedly will be the new Chairman of the Board and Wu Yongming will be the new CEO.
While some employees claimed they had not received official confirmation of the change, certain sources within Alibaba management responded that the report was “90% true.”
Ma’s whereabouts have consistently been the talk of the town. According to media reports, Michael Evans, the President of Alibaba, responded to the question during the recent Viva Technology event in Paris. “Well, first of all, Jack is alive. He’s well; he’s happy. He’s creative. He’s thinking. He’s teaching at a university in Tokyo, spending more time in China,” he said.
Evans added that he “cares… as much about this company today, as he did when he started, and I expect that that will continue for as long as Alibaba and Jack Ma are here.”
Zhang, who had been chief financial officer at Shanda Interactive Entertainment Limited, joined Alibaba in 2007. From September 2013 to May 2015, he served as Chief Operating Officer of Alibaba Group. Presently, Zhang Yong is also the president of Alibaba Cloud Intelligence and directly oversees DingTalk, a subsidiary of Alibaba Group.
As it stands, the Alibaba Group Board of Directors comprises 10 members, including Zhang Yong, Joseph Tsai, Michael Evans, Wu Wei, and six independent directors, including Jerry Yang.
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