Alibaba Pictures Group has appointed Luyuan Fan as its CEO and chairman of the companyâ€™s executive committee, replacing Yongfu Yu.
Joining Alibaba in 2007, Fan previously held several posts at Alibaba Groupâ€™s digital payment platform, Alipay, most recently senior vice president. He was also president of Alipay Business Unit and the Wealth Management Business Unit at Alibabaâ€™s Ant Financial Services Group.
Fan has been involved in the running of APG, since its inception, as an executive director and a member of the executive committee. He is also the founder of Alibabaâ€™s cinema ticketing platform, Tao Piao Piao.
Fan will report to Yu, who still retains four other job titles at APG, including executive chairman and executive director.