Alibaba announced Chairman and CEO Daniel Zhang is shifting his attention to the company’s Cloud Intelligence Group.

Zhang has served as CEO of Alibaba since 2015, and Chairman since 2019, replacing Jack Ma in both roles. As the company prepares to spin off its Cloud Intelligence Group, the executive is turning his full attention to that and handing Alibaba over to his successor.

The company announced the change early Tuesday:

The Alibaba Group board of directors approved Zhang’s plan to transition from the role of Chairman and CEO of Alibaba Group, and appointed Joseph C. Tsai, current Executive Vice Chairman, to succeed Zhang as Chairman and Eddie Yongming Wu, Chairman of Taobao and Tmall Group, to succeed Zhang as Chief Executive Officer and director of the board.

Zhang will remain Chairman and CEO of the Cloud Intelligence Group.

“Daniel has made exceptional contributions to the development of Alibaba Group since joining the company in 2007, and he demonstrated extraordinary leadership in navigating unprecedented uncertainties affecting our business over the past few years. We believe there is no better leader than Daniel to steer Alibaba Cloud Intelligence Group into the next chapter of its journey and future growth,” said incoming Chairman Tsai.

“It has been an incredible honor and privilege to lead Alibaba Group as CEO over the past eight years and Chairman over the past four years. This is the right time for me to make a transition, given the importance of Alibaba Cloud Intelligence Group as it progresses towards a full spin-off,” said Zhang.