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The man who was named the next executive chairman of
Alibaba Group Holding
Ltd.
chose "Free and Uncooperative Person" as the nickname of his company.
It could have been wishful thinking.
Daniel Zhang, 46, a training accountant and general manager of one of China's largest Internet companies, works most nights until 11 pm. According to someone familiar with Mr. Zhang, she spends many weekends networking with other executives.
On Monday, Alibaba's founder, Jack Ma, announced that Mr. Zhang would succeed him as executive chairman when Mr. Ma would step down in a year.
This was hardly a surprising choice: Mr. Zhang has been Chief Executive Officer since 2015 and he is widely respected for helping the company continue to grow during this period, with a net profit of $ 10.2 billion. dollars last year.
In unveiling the succession plan on Monday, Mr. Ma quoted Mr. Zhang's business sense. "Under his leadership, Alibaba has grown steadily and sustainably for 13 consecutive quarters," said Ma in a letter to customers, shareholders and employees. "His analytical mind is unparalleled, he holds our mission and vision to heart, he takes responsibility with passion and he has the courage to innovate and test creative business models.
Alibaba employees all choose internal nicknames, and Mr. Zhang chose "Free and Noncooperative" because "he is always hunting and searching, being free and not attached to anything", said another
Alibaba did not make Mr. Zhang available for comment.
Among other achievements, Mr. Zhang is known to have turned the singles day, a holiday celebrated by China's young singletons, into a phenomenal promotional vehicle for Alibaba's online sales platforms.
Single young people are among Alibaba's main customers and singles day in 2009 – November. 11 – Alibaba offered them huge discounts on clothing, electronics and just about everything it was selling.
After a ninth year, the cuts were reduced, but this day has become a major marketing event for mainstream brands in China, with some brands preparing months in advance for shopping.
Last year, the e-commerce giant claimed to have accumulated more than $ 25.3 billion in sales over a 24-hour period that began Nov. 11 at 12 pm and the usual discounts on everything from cosmetics to cars.
"Before this first 11.11, for us, it was just about surviving, finding a way to grow a small business faster," said Mr. Zhang, in a low, cerebral voice at the end of the day. 39, last year. site. "But looking back, the spirit of entrepreneurship that reigns in Alibaba is really at the rendezvous."
Mr. Zhang, a graduate in Finance from the Shanghai University of Finance and Economics, joined Alibaba in 2007 as Chief Financial Officer of Taobao, the company's e-commerce site that consumers and small businesses use. to sell their products.
The following year, he began to oversee Tmall's predecessor, Taobao Global, and to convert the business-to-consumer platform into a highly sought-after online sales site for brands eager to sell in China.
Tmall's online sales site has become one of Alibaba's biggest success stories, said Jason Yu, general manager of Kantar Worldpanel China, helping to convert Chinese buying habits into cheap products.
The platform has recently attracted several luxury brands such as Estée Lauder and
Tiffany
& Co. for sale on his website, Yu noted.
Mr. Zhang was also a key architect of Alibaba's new retail initiative, which sought to mix online shopping with traditional stores through its Hema grocery chain.
Hema, which opened in less than two years in more than 45 stores in China, offers Chinese consumers the opportunity to shop in-store, enjoy fresh food on their premises or use an app for delivery to home.
Yet, at the nascent stage of Hema, Mr. Zhang kept his new secret project of Mr. Ma for nearly two years, according to one of those familiar with Mr. Zhang.
Given the complexity of the mix of e-commerce and physical trade, Zhang did not want to explain his project to his boss until he found the best model of operation for such a configuration, added the person.
To keep the secret, Mr. Zhang clandestinely met Hema's CEO in warehouses to discuss the operations and decided to open his first store in Shanghai instead of Alibaba headquarters in Hangzhou, said this person.
Mr. Ma was officially informed when he was invited to a media visit to a Hema store in eastern China, the person added.
"When Jack started talking about the new distribution, nobody knew what it was about and everyone was a little lost," said John Choi, an analyst at Daiwa Capital Markets. "Daniel has done a good job in explaining to investors and analysts that the new retail business is executing his vision."
However, investors must be convinced that Mr. Zhang will be able, in the long term, to fulfill the functions of his visionary successor. Alibaba shares fell 2.7% after the start of trading on Monday and fell more than 3% in mid-day.
Write to Liza Lin at [email protected]
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