Ron Burgundy Posted May 8, 2015 Share Posted May 8, 2015 By John Ruwitch SHANGHAI (Reuters) - When Alibaba Group Holding Ltd's eccentric founder Jack Ma stepped down as CEO two years ago, he declared "the Internet belongs to young people," and promised that most of the company's leaders born in the 1960s would soon retreat from management. On Thursday, that transition at the e-commerce behemoth appeared complete as Ma trumpeted the appointment of a fresh chief executive, Daniel Zhang, born in 1972, as part of a broader reshuffle. Yet as the eight-year Alibaba veteran and current chief operating officer moves into the corner office, the firm remains as much Jack Ma's company as it was when it was founded in his apartment 16 years ago. "No matter who the CEO is, Jack Ma still has ultimate control of the company," said Henry Guo, an analyst at Summit Research. View the full article Quote Link to comment Share on other sites More sharing options...
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