{"id":35824,"date":"2015-05-08T06:08:28","date_gmt":"2015-05-08T10:08:28","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=35824"},"modified":"2015-05-08T06:08:28","modified_gmt":"2015-05-08T10:08:28","slug":"alibaba-group-holding-ltd-nysebaba-names-new-ceo-after-a-lackluster-beginning-to-the-year","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/alibaba-group-holding-ltd-nysebaba-names-new-ceo-after-a-lackluster-beginning-to-the-year-35824","title":{"rendered":"Alibaba Group Holding Ltd (NYSE:BABA) Names New CEO After A Lackluster Beginning To The Year"},"content":{"rendered":"<p style=\"text-align: justify;\">China&#8217;s <strong>Alibaba Group Holding Ltd (NYSE:BABA)<\/strong>, is looking to a new chief executive and a host of young leaders to take it through a potentially more difficult and more mobile future.<\/p>\n<p style=\"text-align: justify;\">The changes occur as the world&#8217;s biggest e-commerce firm by transaction volume confronts growing competition, increased official examination at home and abroad as well as consumer preference for smartphones.<\/p>\n<p style=\"text-align: justify;\">These issues have reduced the value of Alibaba&#8217;s shares from the peaks achieved after the firm&#8217;s blockbuster $25 billion initial public offering in September.<\/p>\n<p style=\"text-align: justify;\">Shares of Alibaba rose 7.5% after the firm appointed a new CEO. Jonathan Lu, the chief executive officer of Alibaba Group Holding Limited, will be succeeded by Chief Operating Officer Daniel Zhang as per a Thursday announcement by the firm.<\/p>\n<p style=\"text-align: justify;\">According to executive chairman Joe Tsai, the decision to promote Zhang will enable talented, young executives to shoulder more responsibility. Zhang on his part opined that the most important thing to do was to develop the young generations across all levels of the firm.<\/p>\n<p style=\"text-align: justify;\">Alibaba&#8217;s results alleviated fears that revenue growth was stalling as China&#8217;s economy slows. The stock was downgraded by investors after Chairman Jack Ma declared last month a halt in hiring and the Chinese government found fault with the firm&#8217;s business practices. Ma also stated that Daniel was a proven international business leader and innovator with an exceptional track record of delivering results<\/p>\n<p style=\"text-align: justify;\">Alibaba is striving to diversify its businesses at the same time leveraging more of the 557 million Chinese who connect to the Internet via their smartphones and tablets. Alibaba Group Holding Ltd (NYSE:BABA) declared minimum $2.4 billion in investments in the previous 12 months. The investments include a Chinese soccer team, smartphone producer and mobile application for taxi service.<\/p>\n<p style=\"text-align: justify;\">The firm&#8217;s overseas game plan includes beginning e-commerce sales in Russia, India as well as Brazil using its Ali Express service and simultaneously targeting additional customers located out of China&#8217;s largest cities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Alibaba Group Holding Ltd (NYSE:BABA), is looking to a new chief executive and a host of young leaders to take it through a potentially [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":31662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[9428,11429,11428,9430],"stock_ticker":[],"class_list":["post-35824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-alibaba-group-holding-ltd-nysebaba","tag-daniel-zhang","tag-jonathan-lu","tag-nysebaba","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alibaba Group Holding Ltd (NYSE:BABA) Names New CEO After A Lackluster Beginning To The Year - Wall Street PR<\/title>\n<meta name=\"robots\" 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