(Yitsai) March 1 — Alibaba Group Holding's food delivery and mapping division will be closed down after its current leader steps down as chairman and chief executive officer this month to focus on Alibaba's eWTP Capital. has selected four executives to take over the reins of the local service group. -Supported investment funds.
While Yu, 48, plans to retire on March 31, Yicai today learned from the Hangzhou-based internet giant. As a partner of Alibaba, he will continue to focus on eWTP Capital's international expansion while providing strategic support to Alibaba's business.
The Local Services Group, one of Alibaba's six major business units, includes food delivery platform Ele.me and navigation service Amap. The two platforms will have separate Chairman and CEO positions.
Ele.me's next chairman will be Chief Technology Officer Wu Zeming, and its CEO will be Han Liu, head of logistics subsidiary Fengniao. Mr. Wu and Mr. Han were both born in the 1980s.
Amap president Liu Zhenfei will be promoted to chairman, and chief operating officer Guo Ning will become CEO. Both men were born in the 1970s and have held front-line management positions at Amap for many years.
Mr. Yu has worked at Alibaba for almost 10 years. Prior to that, he served as Chairman and CEO of UC Mobile, a mobile browser development company. After Alibaba acquired his UC in 2014, Mr. Yu became a partner in the owner of Taobao and Tmall, where he oversaw the digital marketing, entertainment and lifestyle services.
According to its latest financial report, the local service group saw improved performance in the three months ended December last year, with a net loss of 2.1 billion yuan (US$291 million), a 29% year-on-year increase. Shrunk. Sales rose 13% to 15.2 billion yuan (US$2.1 billion), accounting for about 6% of Alibaba's total sales.
Editor: Emi Lane
