Alibaba Group said it had selected Jonathan Lu Zhaoxi to replace its co-founder and CEO Jack Ma, starting on May 10. Ma will remain executive chairman and be involved in the Chinese Internet e-commerce giant’s business strategy and management development. Alibaba has seen tremendous growth in the last year, as it is has increased both its revenue and profit, and many expect it will go public within the next 12 months. The strong performance has, in turn, boosted the stock of Yahoo, which owns a 20 percent stake in the company.

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