Alibaba Pictures has expanded the powers of Fan Luyuan, who was appointed CEO two months ago. He is the company's third leader in 15 months, and replaces Yu Yongfu, who was appointed last December.Fan appears to have been granted all of the multiple powers that Yu accumulated. As well as the CEO title, he is set as executive director and chairman of the executive committee, chairman of the board, chairman of the nomination committee and member of the remuneration committee.“In...
Alibaba Pictures Group
Chairman / CEO
Fan became chairman and CEO of Alibaba Pictures in 2017 and quickly consolidated his power, taking charge of the parent company’s digital media and entertainment group as well as its video hosting service Youku. Alibaba Pictures demonstrated its strength in Chinese cinemas in 2019, financing 23 films that accounted for a fifth of the country’s total box office, including blockbuster sci-fi movie “The Wandering Earth.” It also teamed with Hollywood’s STX Entertainment to release the live-action-animated hybrid “Peppa Celebrates Chinese New Year” in 32 U.S. cities. Although some segments were affected by the coronavirus shutdown, overall the digital media and entertainment business under Fan’s direction saw a 12% year-over-year increase in revenue in fiscal 2020, hitting $3.8 billion.