Alibaba Group Holding Ltd (NYSE:BABA) is undergoing significant changes, including replacing Trudy Dai, a founding partner, with CEO Eddie Wu as the head of its core Chinese e-commerce platforms, Tmall and Taobao. Dai will now focus on creating a new entity to manage Alibaba's global investment assets. This move is part of Alibaba's strategy to handle non-core businesses, enhancing overall competitiveness and flexibility, Bloomberg reports. The changes come as Alibaba seeks to recover from recent challenges, including regulatory scrutiny, market dominance erosion, and the rise of rivals like PDD Holdings Inc (NASDAQ: PDD) and