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The abrupt departure comes amid a wider reshuffle of Alibaba
executives as the company shores up its leadership following the
announcement by chairman Jack Ma that he will retire next year.
Yang Weidong, who has been at Youku for roughly five years,
joined the firm before it was fully acquired by Alibaba in 2015.
He previously worked at Chinese computer maker Lenovo Group Ltd.
"(Yang) is understood to be assisting Mainland authorities with
an investigation into an alleged case of seeking economic
benefits," said a spokeswoman for Alibaba's Digital Media and
Entertainment business.
The company declined to give details on Yang's connection to the
case, to say when he left the company, or which authorities
might be talking to him. Yang could not immediately be reached
for comment.
The Central Commission for Discipline Inspection (CCDI), China's
corruption watchdog, was not immediately available to comment
after hours on Tuesday.
Fan Luyuan, the current chief executive and chairman of film
unit Alibaba Pictures, has taken over Yang's role, the company
said.
Alibaba has been investing heavily in its digital media and
entertainment business amid fierce competition from competitors
including Baidu Inc service iQiyi.
The unit, which oversees Youku as well as the Alibaba's film and
ticketing businesses, has pledged to invest $7.2 billion in the
three years leading up to 2020.
Yang's abrupt replacement also comes amid a wider crackdown on
corruption and tax evasion by authorities, targeting China's
film industry.
The cleanup was triggered after A-list actor Fan Bingbing, who
has appeared in "X-Men" and "Iron Man' film franchises, was
accused of tax evasion and subsequently disappeared from public
life for several weeks earlier this year.
Fan has since been ordered to pay 884 million yuan ($129
million) in overdue taxes and fines, state media said in
October. Fan publicly accepted the punishment and apologized to
her fans in a social media posting.
(Reporting by Cate Cadell; Editing by Mark Potter)
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