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Alibaba Group Holding, a Chinese e-commerce company that has been facing challenges in market share and growth recovery after the Covid-19 pandemic, is undergoing leadership changes. Daniel Zhang, the chief executive who has been with the company for eight years, will be replaced by Joseph Tsai, the executive vice chairman, who will assume the role of chairman of the board. Eddie Wu, the chairman of Alibaba’s core Taobao and Tmall online commerce divisions, will take over as the chief executive of the company, which has a market value of $240 billion.
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