Alibaba to face challenges head-on in post-Ma era
Updated: 2013-05-13 10:06
(Xinhua)
|
|||||||||
BEIJING - Alibaba changed its leader on Friday in what the company describes as "a year of transition" for the world's largest online retail giant.
Jack Ma, 48, stepped down as Alibaba CEO, with 43-year-old Jonathan Lu Zhaoxi taking over the reins at its headquarters in Hangzhou, eastern China's Zhejiang province.
Keeping his position as board chairman, Ma said that he was "no longer young" enough for the Internet industry in his letter of resignation.
According to his own plan, 2013 is the "year of transition" for Alibaba with three major developments - platform, finance and data.
With an initial public offering potentially on the cards, Alibaba faces three challenges - management, listing and innovation, according to industry insiders.
Challenges post-Ma
The news that Ma was to step down now was disclosed at the 10th anniversary celebration of Taobao.com, the country's largest online shopping site, with 24 million transactions per day.
It was expected sooner or later as Ma first announced his decision to step down on Jan 15. Alibaba chose Ma's successor in March.
Lu, Alibaba executive vice president, has been at the group since 2000, founding the Alibaba.com sales team and its online payment service, Alipay.
"Lu is definitely facing multiple specific challenges as a new leader of such a massive industry giant, which is large in size and extensive in its domains," said Alamusi, the associate director of the Policy and Law Committee of China Electronic Commerce Association.
- Michelle lays roses at site along Berlin Wall
- Historic space lecture in Tiangong-1 commences
- 'Sopranos' Star James Gandolfini dead at 51
- UN: Number of refugees hits 18-year high
- Slide: Jet exercises from aircraft carrier
- Talks establish fishery hotline
- Foreign buyers eye Chinese drones
- UN chief hails China's peacekeepers
Most Viewed
Editor's Picks
Pumping up power of consumption |
From China with love and care |
From the classroom to the boardroom |
Schools open overseas campus |
Domestic power of new energy |
Clearing the air |
Today's Top News
Shenzhou X astronaut gives lecture today
US told to reassess duties on Chinese paper
Chinese seek greater share of satellite market
Russia rejects Obama's nuke cut proposal
US immigration bill sees Senate breakthrough
Brazilian cities revoke fare hikes
Moody's warns on China's local govt debt
Air quality in major cities drops in May
US Weekly
Geared to go |
The place to be |