Jack Ma’s potential successor reportedly to step down as Alibaba Pictures CEO due to flat performance

Yu Yongfu, CEO of Alibaba’s film arm Alibaba Pictures Groups, is going to step down from management, Tencent Tech is reporting, citing people with knowledge of the matter. Alibaba board chairman Jack Ma and CEO Daniel Zhang have given their approval to the change, the source added.

The company is seeking actively to fill the leadership vacuum, according to the report. One of the candidates is Lu Fubin, former vice president of Baidu who oversees business in film and video, music, short videos, etc.

Alibaba spokeswoman denied this news in response to our inquiry. Yu also clarified on his Weibo, saying that he’s not leaving the company at the time of this publication. The spokeswoman didn’t comment on whether there’s going to be a change in Yu’s position.

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