Alibaba Group Holding Ltd. has significantly reshaped its influential partnership system, cutting nearly a third of its members and promoting e-commerce executive Jiang Fan to the company’s top leadership circle.
The overhaul reflects the tech giant’s sharpened focus on international expansion and artificial intelligence (AI) as it seeks to reignite growth.
In its annual report released Thursday, Alibaba revealed it had reduced the number of partners from 26 to 17, down from 28 two years ago — a major restructuring of its unique governance body under Chairman Joe Tsai and CEO Eddie Wu.
The move consolidates leadership and elevates Jiang, whose international e-commerce unit has become a rare success story amid Alibaba’s efforts to rebound from years of regulatory scrutiny and stagnation. The company is now zeroing in on its core strengths in online retail and AI development.
Established in 2010 by founder Jack Ma, Alibaba’s partnership structure has long been central to the firm’s governance. Unlike a conventional board of directors, it comprises senior executives and business leaders, with a select Partnership Committee — typically four to five members — holding effective control over director nominations.
Alongside co-founders Jack Ma and Joe Tsai — who remain permanent partners with lifetime tenure — the committee now includes Eddie Wu, Shao Xiaofeng and Jiang Fan.
Changes in the partner lineup have often mirrored broader strategic transitions at the company. For instance, the partnership expanded after Ma stepped down as CEO, then contracted as the firm refocused its strategy. These changes have paralleled Alibaba’s attempts to realign its leadership model with evolving market conditions and regulatory demands.
Several high-profile veterans have left the partnership in the latest overhaul, including co-founder Lucy Peng, former CEO Daniel Zhang, fellow co-founder Dai Shan, local services head Yu Yongfu, ex-CFO Maggie Wu and Ele.me’s former CEO Wang Lei.
Jiang’s promotion to the Partnership Committee marks a dramatic return. At 39, he is the youngest member. He joined Alibaba in 2013, became a partner in 2019, but was removed in 2020 after a personal scandal. In 2022, he was named head of the firm’s international e-commerce operations — Alibaba International Digital Commerce Group — which reported a 29% jump in revenue for the fiscal year ended March, far outpacing the 3% growth from the domestic-focused Taotian Group.
Jiang rejoined the partnership in July 2024. Since then, his influence has grown. By late 2024, he was leading a consolidated e-commerce division. This week, the company announced that he would also oversee food delivery service Ele.me and travel platform Fliggy.
These leadership changes align with Alibaba’s “User First, AI-Driven” strategy, outlined in a shareholder letter by Tsai and Wu. The firm has identified AI as its next growth engine and plans to invest more in related infrastructure over the next three years than it did in the past decade. Its Cloud Intelligence Group has already seen seven consecutive quarters of triple-digit growth in AI-related revenue.
For the fiscal year, Alibaba posted a 6% rise in revenue to 996.4 billion yuan ($138.9 billion) and a 77% increase in net income to 125.98 billion yuan. The firm expects its overseas e-commerce unit to turn a quarterly profit in the next fiscal year.
Alibaba has also trimmed its empire by selling non-core assets, such as stakes in Sun Art Retail and Intime Department Store. Efficiency is improving elsewhere too — grocery chain Freshippo recorded its first-ever annual adjusted profit.
Contact reporter Han Wei (weihan@caixin.com)
