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Daniel Zhang, the former CEO of Alibaba, has stepped down from his position in the tech giant’s cloud division, in a move that has shocked industry leaders. The 51-one-year-old had taken charge of the cloud division just months ago. Since the announcement by Alibaba, the component stock dropped 3 per cent on Monday in Hong Kong. “The board of our company expresses its deepest appreciation to Mr Zhang for his contributions to Alibaba Group over the past 16 years,” Alibaba said in a statement. Eddie Yongming Wu will succeed Mr Zhang as the acting chairman and CEO of its cloud unit, according to the statement. Nearly three months ago, Mr Zhang quit as company chief and said that he wanted to take care of the spin-off of its cloud business. Now, as Alibaba announced his exit from the cloud division amid the biggest-ever restructuring of the company, Mr Zhang’s exit has come as a surprise to analysts. “We were surprised by the announcement,” Citi analysts wrote on Monday. “Mr Zhang may have wanted to step back from the public spotlight, in our view,” they added, according to CNN. The cloud division is currently estimated to be worth $41bn - $60bn. However, analysts said the reams of data it oversees puts it at risk of facing regulatory scrutiny from both domestic and international regulators. Alibaba split into six business groups – including cloud, e-commerce, logistics, media and entertainment – in March in a major restructuring. “Daniel has expressed his wish to transition away from his role as chairman and CEO of Cloud Intelligence Group,” Alibaba said in the letter. “Following careful consideration, the Alibaba board respected and accepted Daniel’s decision and appointed Eddie as acting chairman and CEO of Cloud Intelligence Group, effectively immediately.” Citi analyst Alicia Yap was quoted as saying by CNBC on Monday that “investors may be concerned that the timing and process of AliCloud’s spin-off may be affected”. She added that Citi will continue to monitor developments and that they are awaiting any new announcements. CNN reported that in an internal letter to employees, Joseph C Tsai, chairman of Alibaba Group, said that he and Mr Wu are looking forward to embracing “the next phase” of Alibaba’s development. “This past March, we embarked on our most ambitious reorganisation in Alibaba’s 24-year history – “1+6+N” – in order to position the company for the future,” he wrote on Sunday, referring to the company’s organisational structure after the restructuring – 1 holding company, six business groups and various businesses. “Under Daniel’s and our team’s dedicated efforts, the reorganisation is making steady progress while our business continues to grow.” Read More Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle Chinese e-commerce giant Alibaba says it will not sell shares in Ant's buyback program Chinese livestreamers set their sights on TikTok sales to shoppers in the US and Europe How Google reshaped the world – and is about to do it all over again Update your iPhone immediately The new iPhone could be the most expensive ever by far

LOS ANGELES--(BUSINESS WIRE)--Sep 11, 2023--

Unlike other cast members, Topher Grace didn't write letters of character for Danny Masterson, and his wife, Ashley, had a different message to share

"You haven't aged a day...

Giant Springbok lock Eben Etzebeth is expected to be sidelined for up to 10 days with a shoulder injury, South Africa's director of rugby...

LONDON The London Stock Exchange Group said on Monday that it had appointed Charlie Walker as deputy CEO

BOCA RATON, Fla.--(BUSINESS WIRE)--Sep 11, 2023--

A Portuguese court was due on Monday to deliver its verdict on hacker Rui Pinto, whose flood of "Football Leaks" revelations exposed...

A mother who felt she was being “eaten away” after hot flushes led to an incurable blood cancer diagnosis in her late 50s has urged women not to ignore symptoms. In the summer of 2022, Barbara Geraghty-Whitehead, 58, a school inclusion manager who lives in Cheshire, began to experience hot flushes, dizziness and she developed an ear infection. She said she “put it to the back of (her) mind”, but her symptoms persisted – and eventually, after months of hesitation, she visited her GP in September 2022 and underwent blood tests. Within a matter of hours, she received a phone call from her doctor, saying that they were concerned about how high her white blood cells were and that they suspected it could be cancer. One week later, after further tests, Geraghty-Whitehead was told she has chronic myeloid leukaemia (CML) and it is incurable. “You say you want to carry on as much as normal, but from that second nothing else was going to be normal anymore,” she told PA Real Life. “I wanted to go in and for them to say, ‘No, it was a mistake, it’s something else,’ but they didn’t, they said it was CML.” Geraghty-Whitehead started taking chemotherapy tablets that same day – and despite experiencing side effects of fatigue, nausea, acid reflux, and a loss of taste, nearly one year later she has responded well to treatment and has been able to see her daughter get married in Cyprus. After nearly ignoring her own symptoms, she wants to encourage others not to “make excuses”, as “people need to know the signs so they can get diagnosed early”. “When I was first diagnosed, you don’t know where to start and that in itself is overwhelming, but the support I’ve received has been fantastic,” Geraghty-Whitehead said. “I think about [my diagnosis] every day and it is hard and I do get upset, but now I’ve just got to face the fact that this is the new me. “I’m never going to be the person that I was before but I’m going to recreate the new me.” Geraghty-Whitehead said she almost ignored her cancer symptoms and attributed her hot flushes to warm weather and “thought no more of it”. She said she did not think it was related to menopause, as she had already been taking hormone replacement therapy (HRT) patches for years to treat her bone pain. “I started not feeling right and I couldn’t figure out what it was, but I didn’t do anything about it – I just left it,” she explained. She added: “I never ever got hot flushes. Even though I was put on HRT patches, it was mainly for my bone pain, so I just put it to the back of my mind and I thought no more of it.” Looking back now, she realises she should have acted sooner – but on September 16, she visited her GP and underwent blood tests. Days later, on the day of the Queen’s funeral, she found herself sat in an empty hospital waiting room, preparing for further blood tests – and by the end of that week, on September 23, Geraghty-Whitehead received the news she has CML and the following minutes felt like “a blur”. “Everything happened so fast, it was just like a roller-coaster,” she said. “I think it was worse waiting for the blood test results because I didn’t know what type of cancer it was, whether I was going to live, whether I was going to die. “But all I wanted was to get the very first tablet into my body, as I felt like I was being eaten away because it was in my blood and your blood travels everywhere.” Geraghty-Whitehead started treatment the same day she was diagnosed, which she said was the “first positive move”. Although she was told her CML is incurable, doctors reassured her other patients had responded well to the chemotherapy tablets she needed to take daily, and this gave her hope. For more information and support, visit Leukaemia Care’s website here: leukaemiacare.org.uk Read More 9 arthritis myths we all need to stop believing What happens at a sexual health check-up? 9 key signs of leukaemia, as awareness is called ‘non-existent’ Cancer-hit dad who planned own funeral outlives three-week prognosis What happens at a sexual health check-up? 9 arthritis myths we all need to stop believing

Time is running short to avoid a strike at America's three unionized automakers, and the distance between the United Auto Workers union and the companies remains large.

Sean Newman had an elaborate plan to propose to his long-time love Janice Dean 15 years ago but nothing quite went the way he wanted