 |
| Alibaba CEO Daniel Zhang, 46, is often credited with turning Jack Ma's Chinese e-commerce company into a "Boeing 747" |
Both in
personality and skillset, Alibaba's Daniel Zhang will herald a new era for the
Chinese e-commerce giant when he takes over full leadership from charismatic
founder Jack Ma.
Ma
announced Monday that in exactly one year he will hand the executive
chairmanship of Alibaba's board to Zhang, CEO since 2015.
Outwardly
at least, their differences could not be more stark.
Former
English teacher Ma, 54, has become a globally recognised figure through his
constant travel and playful antics such as impersonating Michael Jackson at a
company event last year.
Zhang, 46,
on the other hand, is a mild-mannered accountant with a calm, collected
demeanour.
But Zhang is
routinely referred to by Chinese media as the man who transformed Ma's sturdy
little "tractor" into a "Boeing 747", and analysts say he
is more than up to the task.
Hailing
from the commercial hub of Shanghai, Zhang studied finance at Shanghai
University of Finance and Economics.
He was a
senior manager at global auditor Price Waterhouse Coopers and chief financial
officer of a Chinese online games company before joining Alibaba in 2007 as CFO
of its main online marketplace Taobao.
Zhang is
credited with building Alibaba's Tmall business-to-consumer platform into one
the group's most successful arms, and creating the annual November 11
"Singles' Day" online shopping bonanza, China's biggest retail day of
the year.
Launched in
2009 as China's answer to the US "Black Friday", "Singles'
Day" last year saw more than $25 billion worth of goods snapped up on
Alibaba platforms, up nearly 40 percent year-on-year.
Billions of
dollars more were boughts via Alibaba's e-commerce rivals, who have joined in.
'Wicked
smart'
In many
ways Zhang has been in charge since becoming chief operating officer in 2013
and CEO in 2015, with Ma stepping back and acting as more of a figurehead.
 |
Former
English teacher Jack Ma, 54, has become a globally recognised figure
through his
constant travel and playful antics
|
Under
Zhang's tenure Alibaba has moved from PC-based transactions to mobile-based,
which now account for nearly 80 percent of total gross merchandise volume.
With
revenues surging, Alibaba's stock has soared nearly 90 percent. It is now one
of the world's most valuable companies with a market capitalisation of about
$420 billion.
Within
Alibaba's tight-knit culture, staff each take on nicknames based on Chinese
martial arts figures thought to represent their skills and methods.
Zhang's is
a character known for staying out of battles, but training unbeatable proteges.
"Jack
Ma is incredibly charismatic. Daniel Zhang is not. He's super smart, but when
he gives a press conference -– it's not really his thing," said Jeffrey
Towson, author, investor and business professor at Peking University.
"But
they (the management team) are all wicked smart. This is a top-tier management
team."
Zhang is a
professed fan of basketball and football. Chinese media say he is a devoted
follower of English club Arsenal.
Under
Zhang, Alibaba has poured investment into various new initiatives including
bricks-and-mortar retail, cloud computing, digital media, the grocery sector,
meal delivery and advertising.
In August,
it teamed with Starbucks to capitalise on China's growing coffee addiction and
in April completed the acquisition of Chinese food-delivery leader Ele.me,
among other deals.
"In
the world of business, the excitement never ends, the competition never
ends," Zhang said in an interview earlier this year.
"You
must keep awake every minute; you need to keep your eyes open in your sleep. You
must keep learning and innovating."
No comments:
Post a Comment