Alibaba video unit’s head steps down amid corruption probe

Alibaba’s video streaming unit Youku’s President Yang Weidong has stepped down amid an anti-corruption probe. Yang is understood to be assisting the police with an investigation into “an alleged case of seeking economic benefits”, the group’s spokesperson said. Alibaba Pictures Group Chairman and CEO Fan Luyuan would be taking over the position in addition to his current role.

This short was originally published on Inshorts, based on an article in TechCrunch.

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