The announcement was made at the same time as shareholders approved all motions presented at the company’s annual general meeting.
“(Zhang) has resigned as executive director and ceased to be member of the executive committee of the board due to internal reassignment,” the company said in a regulatory filing.
A respected producer, Zhang joined from state-controlled China Film Corp. soon after Alibaba acquired ChinaVision in 2014 to form the basis of Alibaba Pictures. In the last year it has become clear that the company is less a producer and increasingly a technology integrator.
Speaking at the Shanghai International Film Festival this week, new chairman and CEO Yu Yongfu described APG as a “platform.”