REVAMP Joseph Tsai, executive vice chairman of Alibaba Group, speaks to journalists during Alibaba’s 11.11 Global Shopping Festival in Shanghai, China on Nov. 11, 2018. AP PHOTO REVAMP Joseph Tsai, executive vice chairman of Alibaba Group, speaks to journalists during Alibaba's 11.11 Global Shopping Festival in Shanghai, China on Nov. 11, 2018. AP PHOTOTuesday's announcement will see Chairman and Chief Executive Officer (CEO) Daniel Zhang replaced by Joseph Tsai as chairman and Eddie Wu as CEO, the company said. Following the executive transition, Zhang will continue to serve as chairman and CEO of Alibaba Cloud Intelligence Group, the company said. A record fine of $2.75 billion was later imposed on the tech giant for alleged unfair business practices.
