Alibaba’s board announced on February 21st, 2011 the following changes to the board and management:

  1. The resignation of Mr. WEI Zhe, David as the chief executive officer and executive director
  2. The resignation of Mr. LEE Shi-Huei, Elvis as the chief operating officer and executive director
  3. The appointment of Mr. LU Zhaoxi, Jonathan as the new chief executive officer

Mr. LU Zhaoxi, Jonathan, aged 41 years, joined Alibaba Group in 2000. He is also chief executive officer of Tao Bao Holding Limited, an unlisted sister company in the Alibaba Group, and an executive vice president of Alibaba Group, and he will continue to concurrently serve in these capacities during his tenure as chief executive officer of our Company. Alibaba Group comprises our Company and a number of unlisted businesses under Alibaba Group Holding Limited, our parent company. From 2000 to 2004, Mr. Lu served in several leadership roles at our Company and managed our South China sales region. In September 2004, he led a dedicated team to establish Alipay, another unlisted sister company in the Alibaba Group, and served as Alipay’s president before moving to Taobao in January 2008. Before joining Alibaba Group, Mr. Lu was co-founder of a network communication company. He holds a master’s degree in business administration from China Europe International Business School. Mr. Lu has confirmed that he will dedicate as much time as necessary to perform his duties as chief executive officer of our Company.   Source:  Alibaba Press Release

As reported in the February II – 2011 Issue of the BIIA newsletter the changes in management came about due to a fraud scandal involving Gold status suppliers.  Although management was not implicated in the fraud, the damage to the reputation of Alibaba was considered to be quite significant prompting the resignation of Alibaba’s top executives.