Alibaba’s head of local services unit to step down to focus on eWTP Capital

Alibaba’s head of local services unit to step down to focus on eWTP Capital

Alibaba Group’s partner Yu Yongfu will step down as Chairman and CEO of the firm’s Local Services Group on March 31, 2024. Photo from Alibaba Group’s official website.

Alibaba Group’s Yu Yongfu is stepping down as the head of the Chinese technology giant’s local services business, but he will remain a group partner and steer eWTP Capital in its exploration of global business opportunities.

Edited by: Pramod Mathew

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