Ma said he will step down from his present CEO position to let the new generation leaders take the company to greater heights.

Jonathan Lu joined Alibaba in the year 2000 and is presently serving the company as a Chief Data Officer. He has performed effective management roles in different businesses of the Alibaba group including the online sourcing platform, Alipay- the online service for making payments and  Taobao- providing retailer ecommerce service.

Mark Natkin, Beijing Martbridge Consulting’s Managing Director said that Lu with his management capabilities have been perfectly groomed for the position since past 12 years. It will be a challenging task for Lu to run a company which is presently dominating the entire ecommerce sector of China. The company has also started promotional campaigns for Aliyun- which is Alibaba’s new mobile operating system. Aliababa has also launched its new search engine last month.

Though Ma has resigned from the CEO post, he will continue to be an important part of the company, said Natkin. He will continue to serve as Company’s Executive Chairman and will be responsible for developing the important business strategies and well as managing the overall core company affairs.