Alibaba Group picks chief data officer Jonathan Lu as next CEO
SHANGHAI (REUTERS) - Alibaba Group has chosen Mr Jonathan Lu, its chief data officer who has more than a decade of experience in executive roles, to lead China's largest e-commerce company as it prepares to launch an initial public offering (IPO).
Mr Lu will succeed Alibaba's founder Jack Ma as the chief executive officer starting May 10.
His appointment reflects the company's desire to ensure it is helmed by an executive with deep knowledge of the e-commerce business as it gears up for change. Barclays said recently Alibaba could be worth US$55 billion (S$68.6 billion).
Mr Lu was hired in 2000 to build out Alibaba's South China sales region. He has also led a team to establish Alibaba's e-payment unit, Alipay, and served as president of the unit. In 2008, he moved to shopping website Taobao and was appointed as its head in 2010. Both units were successful under his leadership and were key to making Alibaba Group dominant in a country where 16 percent of the population shops online.