On Monday, Alibaba Group Holding Ltd. announced that Daniel Zhang would succeed Jack Ma as chairman and chief executive officer.
With 15 years of experience at Alibaba, Zhang now serves as the company’s COO. On September 10th, he will become chairman, and on September 19th, he will become CEO.
Alibaba’s 1999 founder, Ma, will continue to serve on the board of directors. In a message to staff, he expressed his faith in Zhang as the ideal candidate to steer Alibaba into the future.
For 15 years, Daniel has been Ma’s “partner and trusted colleague,” he wrote. His contributions to Alibaba’s strategy, operations, and culture have been extensive. If anyone can take Alibaba into the future, it’s him.
Zhang, now 46 years old, attended and graduated from Shanghai’s Fudan University. In 2005, he became a product manager for Alibaba. In 2015, he was given the position of COO, or chief operating officer.
Alibaba, under Zhang’s direction, has branched out into emerging markets like cloud computing and AI. More than 20 countries are now served by the company’s global reach.
Alibaba ranks in the top 10 most valuable IT corporations. More than $400 billion has been invested in the company, making it the most valuable online retailer in the world.
The loss of Ma is a big deal for Alibaba. He has long been the company’s public face and is a dynamic leader. Zhang, on the other hand, is a highly regarded executive and a likely successor.
Competitors like Amazon and Tencent are making it harder for Alibaba to succeed. However, the company is set up for sustained expansion. It’s got a solid reputation, devoted clientele, and smart leaders.
Under Zhang’s leadership, Alibaba is poised for future growth and success.