Ma will deliver cargo in just 12 months, the day that reached 55 years, but will continue to integrate the Board dir activate until 2020.
Now think to concentrate on Philanthropy and education, but also in the search of «new dreams» did not specify, he said on Monday in a statement.
China’s richest man has become synonymous with the transformation of the company he created in his Hangzhou apartment in a global giant of e-commerce with the burgeoning business of delivering packages and cloud computing. The successor of Ma, who is 46, has deepened the arrival of Alibaba to the wallets of Chinese consumers to buy and transform local physical sales: a vision that has been called «New retail» which has cost billions of dollars and that It took the company to the field of physical stores.
«Start the process to deliver the torch of Alibaba to Daniel and his team is the proper decision at the right time since working with them, I know that they are ready», Ma said in the statement. «Since you took office as CEO, has demonstrated that has great talent, business intelligence and is a strong leader.»
The succession plan will unify the two main roles of Alibaba for the first time since Ma gave his position as CEO in 2013 to concentrate in the Presidency and in the preparation of successors, including Zhang, an accountant who studied at Shanghai.
Zhang joined Taobao in 2007 as financial head of consumer market consumer. He led the RAID of the company in achieving established brands to sell to consumers and is attributed part of the success of shopping that day of the Bachelor has become in China.
The appointment of Zhang could come as a surprise to those who are used to following other executives from high-profile Ma, such as Vice President Joseph Tsai. The CEO has demonstrated its capacity: Alibaba shares have risen 87 percent during his tenure and the company now has a market value of around $420.000 million, above the of its biggest rival, Tencent Holdings Ltd., which operates WeChat.
Ma moves in moments in which Alibaba has a dominant position in China, and extends to foreign markets from Southeast Asia to Russia. The address will now fall on Zhang and the other 35 partners who control the company.