Jonathan Lu Zhaoxi appointed chief executive of Alibaba

  • Chinese e-commerce giant, Alibaba Group, named Jonathan Lu Zhaoxi as its new chief executive on Monday.

    Lu is to replace the group's founder Jack Ma, who announced in January that he was resigning to make way for a new generation of leaders at the firm.

    Lu, 43, joined Alibaba in 2000 and has led various key divisions within the group, including the online payment service Alipay.

    Ma, founded Alibaba in 1999, will remain the group's executive chairman.

    Alibaba Group is the parent company of online marketplace for small businesses, Alibaba.com, Taobao, a shopping site for consumers, and Alipay, an online payment service.

    It is the world's biggest Internet market boasting more than 500 million users.

    Lu will take charge of the group from May 10.

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