Zhang, who joined Alibaba in 2007, became chief operating officer in September 2013 and was the key architect behind Singles Day – the 11 November event that has overtaken Black Friday in the US to become the world’s largest online shopping event.
Ma said the CEO change, which was part of a wider management shake-up, was part of a wider handover of control to a younger generation. “This marks a future where the post-70 generation will command the troops at Alibaba Group!,” he said in a letter to employees.
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However, the age gap between Zhang and Lu is hardly massive. Zhang was born in 1972, while Lu born in 1969, according to Chinese media.