Alibaba’s stock rises after strong quarterly results

Alibaba Group Holding Ltd, China's largest e-commerce company, has performed well in its fourth-quarter earnings reported last week. The company's earnings beat all estimations and its stock increased more than 9%. The company also made an announcement that Zhang would be appointed as CEO, replacing Jonathan Lu.

New CEO of Alibaba is looking forward to create an international platform for the company to grow in other countries after China.

In an interview with Bloomberg, Mr. Zhang said that his global strategy is 'a long journey'. Mr. Zhang wants to implement the expansion strategy using his agreements with international brands and foreign investors.

Global expansion has been taken to a new extent since Alibaba's IPO in September last year. If Alibaba founder Jack Ma wants the company to compete with giants like Amazon, he needs to look for a managerial strategy that expands the company out of its home market.

According to RedTech Advisors' managing director, Mike Clendenin, "Perhaps Jack is sending a signal to the capital markets and the regulator that he's willing to make changes".

In August 2007, Zhang first joined Alibaba as CFO of the company's Taobao Marketplace. Mr. Zhang was given the same position at Chinese online games company, Shanda Interactive Entertainment Ltd before his appointment as CFO. Mr. Zhang had been serving as Alibaba's COO since 2013.

Zhang is younger to his predecessor Mr. Lu however; Mr. Lu did a lot in the number of years he served in Alibaba. Mr. Lu served in the company since its beginning years; he joined the company nearly 15 years ago, a year after the company was established.