Steven Spielberg

New Alibaba Pictures CEO warns of 'drastic changes' in China's film industry

New Alibaba Pictures CEO warns of 'drastic changes' in China's film industry

Alibaba Pictures, the film and TV production arm of Jack Ma’s e-commerce giant Alibaba Group, has named a new chief executive to grow the upstart entertainment business and contend with what he called “drastic changes” in the Chinese film industry. 

Technology entrepreneur and Alibaba Pictures’ chairman Yu Yongfu will replace CEO Zhang Qiang, who was put in charge in 2014, the company said Tuesday.  As part of an organizational change, Zhang and President Zhang Wei have been re-designated as co-presidents of the firm, reporting to Yu.

Alibaba’s leadership shakeup comes amid a

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