Canada Pension Plan, one of the largest in the world, doubled its investment in Apple stock, initiated a position in Alibaba, and bought more Microsoft and Tesla.
Longtime Alibaba executive Yu Yongfu will step down as CEO of the firm's local services division at the end of March, according to a company spokesperson. His role, which includes leading food delivery business Ele.me and mapping and navigation service Amap, will be divided between several executives. Wu Zeming will become chairman of Ele.me while Han Liu will take the reins as chief executive.
The head of Alibaba Group Holding's Local Services Group (LSG), one of the e-commerce giant's six business units, is stepping down amid an ongoing restructuring process. Yu Yongfu, who was appointed to lead LSG after Alibaba announced its restructuring last March, will exit the unit - which includes delivery business Ele.me and mapping service Amap - at the end of March, according to a statement by Alibaba on Friday. Yu will pass on his chairman and chief executive roles to a younger group of ma