E-commerce giant Alibaba names new CEO to replace Jack Ma

Chinese e-commerce giant Alibaba says its executive vice-president has been named to succeed founder Jack Ma as chief executive.

Alibaba said on Monday that Jonathan Lu Zhaoxi, a 13-year veteran of the company, will take over in May as CEO.

Ma, 48, is one of the world’s most successful internet entrepreneurs. He announced in January he was stepping down as chief executive to make way for younger leaders but would stay on as chairman.

via Business feed http://www.scmp.com/business/companies/article/1188314/e-commerce-giant-alibaba-names-new-ceo-replace-jack-ma