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Lu Zhaoxi to succeed Jack Ma at Alibaba
By Ding Yining |
March 11, 2013, Monday
|
Online Edition
Online Edition
CHINA'S largest e-commerce company Alibaba Group Holdings said it has appointed Lu Zhaoxi as the successor of founder Jack Ma, who announced earlier this year he would step down from daily operations.
Lu, currently Alibaba's executive vice president, will step up as chief executive officer on May 10, the company said in a statement today.
The leadership handover is the latest signal the company is speeding up preparation for an initial public offering.
Lu, 43, has worked at the company for 13 years and also served as Alipay's chairman and Taobao.com's chairman.
He is currently in charge of the group's statistics and information infrastructure.
Ma said in January he would step down in May while remaining as executive chairman of the group to leave the leadership position to a younger generation who have a better understanding of the future.
The company went through a series of restructuring in the past two years to retain its dominance in the domestic e-commerce sector.
Lu, currently Alibaba's executive vice president, will step up as chief executive officer on May 10, the company said in a statement today.
The leadership handover is the latest signal the company is speeding up preparation for an initial public offering.
Lu, 43, has worked at the company for 13 years and also served as Alipay's chairman and Taobao.com's chairman.
He is currently in charge of the group's statistics and information infrastructure.
Ma said in January he would step down in May while remaining as executive chairman of the group to leave the leadership position to a younger generation who have a better understanding of the future.
The company went through a series of restructuring in the past two years to retain its dominance in the domestic e-commerce sector.
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