“Alibaba names Daniel Zhang, currently COO, as CEO, replacing Jonathan Lu,” Leslie Picker reports for Bloomberg.
The shake-up comes as Alibaba is surging after beating earnings.
Lu became known as “the corporate alter-ego of [Alibaba founder Jack] Ma” because of his low-key style.
“We complement each other very well,” Lu told Bloomberg in 2013. “He looks forward and outside of the box, I focus on the present.”
The change will be effective Sunday.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.