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(Reuters) - Alibaba Group Holding said on Tuesday that Eddie Yongming Wu, chairman of its Taobao and Tmall Group, will succeed Daniel Zhang as chief executive officer, in the company's biggest executive reshuffle since its restructuring.
The e-commerce giant announced in March it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24-year history.
Below are the six divisions:
TAOBAO TMALL COMMERCE GROUP
The Taobao Tmall Commerce Group covers Alibaba's domestic-facing e-commerce marketplaces, which make up over two-thirds of Alibaba's total revenue. Taobao and Tmall are China's dominant e-commerce marketplaces in China.
Despite the scale of Alibaba's e-commerce operations, growth in the business has slowed, reflecting the maturation of China's overall e-commerce sector and the impact of COVID curbs, stiff competition from rivals, and slowing economic growth.
Taobao Tmall Commerce Group will remain wholly owned by Alibaba Group after the restructuring, the company said, even as the other units will be free to raise funds and list.
Trudy Dai, a member of Alibaba's founding team, is CEO. Dai was appointed to lead the domestic e-commerce businesses in December 2021 when the company reorganised its international and local e-commerce businesses.
GLOBAL DIGITAL COMMERCE GROUP
Alibaba's Global Digital Commerce Group includes its overseas e-commerce marketplaces such as Lazada, which serves Southeast Asia, and AliExpress, which has become popular in Russia, Latin America, and parts of Europe.
These platforms face fierce local competition in the markets they operate in outside of China and make up just 8% of Alibaba's total sales.
However, together with Alibaba's other overseas e-commerce platforms, they are some of the company's fastest-growing divisions.
The group's CEO is Jiang Fan who had been leading Alibaba's international e-commerce businesses since December 2021. Jiang previously oversaw the Taobao and Tmall businesses.
In May, Alibaba said its board had approved the process to start external financing for the unit.
CLOUD INTELLIGENCE GROUP
Alibaba's Cloud Intelligence Group includes Aliyun, the company's cloud computing unit. The company is the dominant player in China's domestic cloud computing sector, with a 36% market share, according to research firm Canalys.
The division is also home to DAMO Academy, Alibaba's research arm for chips and artificial intelligence, as well as Dingtalk, the company's workplace messaging app.