In 50 Words: Alibaba reshuffles leadership in bid to boost profits

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In 50 Words: Alibaba reshuffles leadership in bid to boost profits

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Alibaba Group is revamping its top leadership in an effort to bolster profitability and compete in its core ecommerce market.

Eddie Yongming Wu, chairman of Taobao and Tmall units, will assume the role of group CEO, while Joseph Tsai is set to transition from executive vice chairman to chairman.

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