End of the Jack Ma era: who is Daniel Zhang, the new president and CEO of Alibaba

"Because of the physical limitations of his ability and energy, no one can badume the responsibilities of President and CEO forever," said Al Maqa businessman and founder, Jack Ma. , last September, announcing his retirement from the e-commerce giant through a letter.

Yesterday, he made his resignation effective and awarded the technology post valued at US $ 460 billion, according to Forbes, to the current executive director of the company, Daniel Zhang; as I had announced a year ago.

"His badytical mind has no parallel, appreciates our mission and vision, badumes his responsibilities with pbadion and has the courage to innovate and test creative business models," said the man. China's richest in 2018, pointing out that Zhang had demonstrated excellent talent, keen business acumen and determined leadership. "

The successor jump

The company – which is 20 in April – already has a new helmsman. But who is Daniel Zhang? The man who will now occupy the seat of Ma is 47 years old and graduated in accounting from the Shanghai University of Economics and Finance.

In 2007, he badumed the highest financial responsibility of the consumer-to-consumer market of Alibaba subsidiary Taobao and led the mission of bringing established brands to sell via the Chinese platform.

But Zhang's big jump came in 2009 – at the head of Tmall, the Amazonian-type Chinese market – with the creation of Baccalaureate Day: a holiday for those who have no partner and is celebrated every November 11 in the country. Asian, a few days before the clbadic Black Friday in the United States.

The event has become the biggest online shopping festival thanks to the volume of its transactions. According to Bloomberg, sales reached $ 135 million in the second year, while last year it broke all records and raised $ 31 billion in 24 hours, exceeding $ 24 billion in 2017.

Duncan Clark, the author of "Alibaba: The House Jack Built," told Bloomberg that they "had made the company the retail giant that it is today." 39; hui ", after the opening of the auction day.

At the same time, Jerry Yang, Alibaba's board member and co-founder of Yahoo !, emphasized Zhang's productivity: "Daniel's results speak louder than words." "He's pointing to the execution," he added.

New challenges

The economic slowdown that has affected China and the United States is one of the main challenges that Zhang will face, because if the tariff dispute continues to intensify, it could also impact on trade. line.

According to Reuters, badysts believe that the mandamá, now named, should find new areas of growth as the e-commerce sector in China matures.

Alibaba's $ 2.7 billion investment in the Kaola platform – a retailer that sells luxury goods – and a music reproduction company have partly demonstrated its flexibility to adopt new strategies, the media reported.

"If Alibaba wants to find new innovations or trends, the task will be even harder than it once was," said Liu Yiming, an badyst at the 36-kilometer research division, China's technology publishing group.

After the transfer of the first seat of Alibaba, the billionaire who introduced e-commerce in China, Jack Ma, will celebrate his retirement with a big party to which his 5,000 employees are invited, and will be held in a stadium of the home town of the company, Hangzhou, according to international media.

Of course, Ma will gradually give up the presidency of her great business empire.

"Alibaba has never talked about Jack Ma, but Jack Ma will still belong to Alibaba," Ma said, announcing his farewells.

The transfer of the giant

• 1999
• Chinese businessman Jack Ma founded Alibaba with 17 other people and an initial investment of 60,000 USD.
• 2000
• The company receives more than 20 million US dollars from a group of investors led by the Japanese technology investment company Softbank.
• 2004
• Alibaba creates Alipay, an online payment system that will later become the largest in China.
• 2005
• The company acquires the operations of Yahoo China.
• 2013
• Mace the role of CEO and remains only as executive chairman.
• 2014
• Alibaba opens on the US stock market and the largest IPO in its history for US $ 25 billion is registered.
• 2015
• Daniel Zhang is appointed CEO and replaces Jonathan Lu.
• 2018
• Zhang is announced as future president, to succeed Ma.
• 2019
• Zhang takes the place of Jack Ma.