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Former president of Youku under investigation on embezzlement charges

Dec 4, 2018 by The Passage Team
Former president of Youku under investigation on embezzlement charges

Yang Weidong, former president of Youku, is under investigation over embezzlement charges.

Chairman of Alibaba Pictures, Fan Luyuan, has taken over as the Youku president. He was appointed the roving president of Alibaba Digital Media & Entertainment Group in the November 26 corporate restructuring of Alibaba. According to Caijing’s report, Alibaba has been suspecting an inside job in projects like “This! is Hip-Hop” for some time now.

Yang served as president of Youku business group since 2016. He was the president of Alibaba Digital Media & Entertainment Group since 2017, and CEO of Alibaba Music since May 2018. Before joining Alibaba, Yang was an executive officer of Youku Tudou Group from 2013 to 2016.

Source: Caijing News

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