Chief executive officer Daniel Zhang will succeed Jack Ma as Alibaba chairman. Jack Ma will continue as executive chairman of the company over the next 12 months to ensure a smooth transition of chairmanship. Alibaba comprises 36 partners, who are also members of senior management of the group or its affiliates.
Zhang has been with the group for 11 years and Alibaba has seen consistent and sustainable growth for 13 consecutive quarters under him. Chinese internet and e-commerce giant Alibaba wants to have an omni channel or multi-channel retail presence in India. The idea is a possible joint venture or a broader synergistic alliance, with Alibaba picking up a stake in the retail entities of any of the large Indian groups.
Omni channel or multi channel retail provides shoppers with a consistent and seamless buying experience across online and offline stores. Alibaba has popularised this approach as an online-to-offline model in its home country, China, especially to onboard offline users who might not be making purchases through online platforms.
Alibaba, which clocked profits of ten billion dollars on revenues of nearly 40 billion dollars in fiscal 2017-18, holds a significant stake in Paytm Mall, which has made sedate progress in a fiercely competitive market.