September 11, 2026 – Alibaba Health announced a major leadership reshuffle today.
According to the announcement, effective September 11, 2026, Yu Yong has been appointed as Executive Director, Chairman of the Board, Chief Executive Officer (CEO), and Chairman of the Nomination Committee. He will also serve as the Authorized Representative of the Company under Rule 3.05 of the Securities Listing Rules of the Stock Exchange of Hong Kong.
Concurrently, Shen Diefan has resigned from his roles as Chairman of the Board, CEO, Chairman of the Nomination Committee, and Authorized Representative. His resignation will take effect after the close of business hours on September 11, 2026.
Moving forward, Shen will remain as an Executive Director. He will dedicate more of his time to advancing the implementation of Alibaba Group’s artificial intelligence initiatives in the healthcare sector, while continuing to oversee Alibaba Health’s Hydrogen Ion and Traceability Code businesses.
Public records show that Shen Diefan only took over as Chairman of the Board from Zhu Shunyan on December 15 of last year.
Shen, currently 47, is a senior executive at Alibaba Health. He joined Alibaba in 2004 and previously served as General Manager of the AliExpress Business Unit. He first served as Executive Director and CEO of Alibaba Health from March 2018 to March 2020. He was reappointed as Executive Director on October 13, 2021, and resumed the role of CEO on November 28, 2023, nearly three years prior to his resignation. Between October 2020 and November 2023, he concurrently served as Chief Operating Officer (COO).
Yu Yong, who is taking over as Chairman and CEO, is also a veteran of Alibaba. He joined Alibaba Group in March 2005 and has successively served as Executive Director, General Manager, and Legal Representative for various subsidiaries within the Group.
Notably, on September 8, Yicai (China Business Network) reported that Alibaba’s B2B platforms, 1688 and Alibaba.com, have been integrated and will now be operated uniformly under the leadership of Zhang Kuo. Following this restructuring, Yu Yong, the former head of 1688, was set to be reassigned to a new position within Alibaba Group.
