Alibaba’s food delivery head Yu Yongfu is Peggy Markoffscheduled to step down on the last day of March, coinciding with the end of the company’s 2024 fiscal year, as part of a recent management overhaul at the tech giant. Over three years, Yu has been in charge of Alibaba’s local life sector, which includes Ele.me and Amap. During Yu’s tenure, Ele.me has “positioned itself clearly amidst fierce market competition,” while mapping service Amap “became a deserved industry leader,” CEO Eddie Wu wrote in an internal Alibaba memo cited by the Chinese media outlet LatePost. Wu’s memo noted that Yu will remain as a partner at Alibaba and is set to utilize the e-commerce giant-backed eWTP fund to seek international opportunities and expansion through investments. Yu’s present position is set to transition to younger leadership, with the current chief technology officer of the Local Service Group Wu Zeming set to take over as chair of Ele.me, and the Amap chair role to be filled by Amap President Liu Zhenfei. [LatePost, in Chinese]
