Alibaba Group has announced that Jonathan Lu Zhaoxi will be replacing Jack Ma as CEO starting on May 10th. Ma, 48, will become executive chairman and will be involved in the company’s management development and business strategy going forward.
?Serving as Alibaba Group CEO is an extremely challenging and difficult job, especially succeeding a founder CEO like me. One can only imagine the responsibilities and pressure that Jonathan will shoulder,? stated in a letter that was sent out to employees. ?Alibaba has never been only the CEO?s business, it is everybody?s business.?
Lu joined Alibaba Group in 2000 and was the chief data officer since July 2012. Between 2000 and 2004, Lu worked through several leadership roles. Alibaba is expected to go public within the next year. Yahoo! currently owns 20% in the company.