Alibaba Undergoes Aggressive Restructuring At Its Cloud Unit - Alibaba Gr Holding (NYSE:BABA)

Alibaba Group Holding Ltd BABA owned Alibaba Cloud initiated a new round of organizational restructuring, the Pandaily reports.
Alibaba Cloud China President Ren Geng resigned for undisclosed reasons. Geng looked to leave as early as 2021 but stayed back.
Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees
Alibaba Cloud VP Huang Haiqing succeeded Geng. Former Huawei Enterprise Business Group China President Cai Yinghua also joined Alibaba Cloud in March as SVP, Alibaba. Geng, who was in charge of the Alibaba Cloud business in China, reported to Cai.
The architects at Alibaba Cloud will all be consolidated and integrated, with Huo Jia, GM of intelligent general industry solutions, heading the team.
Huo will report to Yinghua instead of Geng. Several mid-and senior-level executives under Alibaba‘s VP Li Feifei and other top executives have recently resigned.
As Cai Yinghua and Huang Haiqing strengthen their internal positions, more executives will join, leading to new rounds of organizational adjustments and business restructuring.
Haiqing prioritized sales focus on high-quality, self-owned products and profits at the executive meeting in China on April 12.
Haiqing is a veteran in cloud computing and worked in Dell Technologies Inc DELL, International Business Machines Corp IBM, Oracle Corp ORCL, and Tencent Holdings Ltd TCEHY.
Price Action: BABA shares traded higher by 0.24% at $99.99 on the last check Wednesday.

Market News and Data brought to you by Benzinga APIs