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Alibaba picks Daniel Zhang as its new CEO

Surprise appointment is portrayed as a sort of changing of the guard

CHARISMATIC FIGURE: To many Alibaba employees, Mr Zhang, who led the rise of the company's Tmall shopping site, is known as one of the most capable of the new generation of leaders.

Hong Kong

BEFORE Alibaba raised US$25 billion in an initial public offering (IPO) last year, its founder, Jack Ma, said he did not care much about share prices.

On Thursday, Mr Ma made it clear he was not too worried about shaking things up, either, replacing the company's chief

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