NEW YORK ( TheStreet) -- Yahoo!'s (YHOO) board of directors have given CEO Marissa Mayer a pass for the three years since she was hired, though its core business is still nowhere close to being ready to turn itself around.
By contrast, Alibaba (BABA) Chairman Jack Ma fired his hand-picked successor after only two years on the job.
It was a shocker to see former CEO Jonathan Lu ousted in favor of COO Daniel Zhang, but it shows just how impatient Ma is when Alibaba doesn't move as fast as he wishes it would.
Lu was never a public-facing CEO, partly because Ma and Vice Chairman Joe Tsai needed to be so heavily involved in the initial public offering of the company last September, and played such key roles in meeting with potential investors.
However, Ma and Tsai seem to be wasting no time this morning in shoving Zhang in front of the media to discuss Thursday's rosy earnings report. They seem to be saying that Alibaba is now his show to run, and he'd better perform -- though both will be watching from the wings to ensure everything goes well.
Since hitting its high of $120 a share in November, Alibaba has lost approximately $90 billion in market cap, which has apparently frustrated both Ma and Tsai. There had been a steady drumbeat of concerns expressed by some on Wall Street about looming crackdowns by the Chinese government on counterfeit goods sold on Taobao and other Alibaba sites. Alibaba management wants to turn the page on this issue. Their answer to the critics has been: Yes, of course this goes on all over China and especially on a platform as big as ours. We're dealing with it.