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Yang Weidong Ousted At Alibaba For Corruption Charges

cr: Alibaba

As of Tuesday, the president of Alibaba’s video-streaming platform Youku, Yang Weidong, has been fired amidst being under police investigation for corruption. Taking over for him will be Alibaba Pictures CEO and chairman Fan Luyuan.

Yang is a powerful figure in China’s growing streaming business, and while no formal announcement was made about his ouster a spokesperson for Alibaba Digital Media and Entertainment told Variety that the now “ex-president” is “understood to be assisting mainland with an investigation into an alleged case of seeking economic benefits.”

Alibaba had launched their own internal investigation of corruption around Yang, likely having to do with “problems with revenue and expenditures” tied to Youku’s “This Is” variety show. The series targets millennials with reality show competitions on various subjects. Yang’s collapse comes merely days after his most recent appearance at an industry conference in Chengdu on November 29th.

 

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