Ma’s successor as chairman is CEO Daniel Zhang,
a former accountant and 12-year veteran of
Alibaba. He previously was president of its
consumer-focused Tmall.com business unit.
Alibaba’s e-commerce business spans platforms
including business-to-business Alibaba.
com, which links foreign buyers with Chinese
suppliers of goods from furniture to medical
technolo gy, and Tmall, with online shops for
popular brands.
Alipay became a freestanding financial
company, Ant Financial, in 2014. Alibaba also set
up its own film studio and invested in logistics
and delivery services.
Ma faced controversy when it disclosed in 2011
that Alibaba transferred control over Alipay to
a company he controlled without immediately
informing shareholders including Yahoo Inc. and
Japan’s Softback.
Alibaba said the move was required to comply
with Chinese regulations, but some financial
analysts said the company was paid too little for
a valuable asset. The dispute was later resolved
by Alibaba, Yahoo and Softbank.
Corporate governance specialists have
questioned the Alibaba Partnership, which gives
Ma and a group of executives more control over
the company than shareholders.
Ma has said that ensures Alibaba focuses on
long-term development instead of responding
to pressure from financial markets.
Alibaba Group: http://www.alibaba.com