Alibaba names Jonathan Lu as new CEO

by CXOtoday News Desk    Mar 11, 2013

China’s e-commerce giant Alibaba, today named Jonathan Lu Xaoxi as its new CEO—two months after founder Jack Ma announced that he would be stepping down from the position.

During his announcement, Ma, 48, said he was he was too old to run the company, and that he wanted to make way for younger people at Alibaba. Lu, 43, will take over from Ma on May 10, and Ma will continue as chairman.

Lu has been with Alibaba for 11 years. He runs three different divisions of the company, including the Taobao shopping platform, and he is currently in charge of the company’s mobile payments initiative, Aliyun.