Alibaba Pictures appoints Yu Yongfu as new CEO
Mr. Yu remains as executive Director, chairman of the Board, chairman of each of the executive committee and the nomination committee of the company, and member of the remuneration committee of the company.
Mr. Yu had been a non-executive Director since August 27, 2016.
Mr. Yu is a partner of Alibaba Group Holding Limited since December 2015, and has served as chairman and CEO of Alibaba Digital Media & Entertainment Group since October 31, 2016 and president of mobile Internet division of Alibaba Group since May 2015.
Prior to his current positions, Mr. Yu served as committee leader, with overall leadership and management responsibility for the digital media and entertainment matrix of Alibaba Group from June 2016, president of UCWeb after he joined Alibaba Group in June 2014 and president of AutoNavi from March 2015.
From May 2015 to June 2016, he was also president of Alimama. From 2006 to June 2014, he was chairman and chief executive officer of UCWeb before it became a whollyowned subsidiary of Alibaba Group.
Prior to that, he was a vice president and associate with Legend Capital from 2001 to 2006. Mr. Yu also serves as an independent director and a member of the audit committee of Xunlei Limited, a NASDAQ-listed company.
He received a bachelor's degree in business administration from Nankai University.
Alibaba Pictures Group Limited, together with its subsidiaries, announces that with effect from December 5, 2016, Zhang Qiang has been re-designated from chief executive officer of the Company to Co-President and remains as executive Director and member of the executive committee of the Company.