SHANGHAI, March 16 (Reuters) - Alibaba Group ( BABA )

Chief Executive Eddie Wu will head the newly formed Alibaba

Token Hub (ATH) Business Group, the firm said in a statement on

Monday.

The new group will comprise existing Alibaba ( BABA ) units Tongyi

Laboratory, MaaS Business Line, Qwen Business Unit, Wukong

Business Unit, and AI Innovation Business Unit.

Alibaba ( BABA ) said its mission would be to "create, deliver, and

apply tokens," and it would focus on building AI-native work

platforms for enterprises.

The move comes weeks after Alibaba's ( BABA ) Qwen AI model division

head, Lin Junyang, announced his departure, becoming the third

senior Qwen executive to exit this year.