SUBSCRIBERS

Alibaba picks Daniel Zhang as its new CEO

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

Published Fri, May 8, 2015 · 09:50 PM

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 executive just days after airing concerns about efficiency.