ROME, Oct. 26 -- Young Chinese entrepreneur Steven Zhang was appointed president of FC Internazionale Milano on Friday, the football team announced on social media.

Zhang, who turns 27 in December, was named the youngest-ever president of the 110-year-old team commonly known as Inter at a shareholders' meeting on Friday.

"Today I am very proud to be able to lead this club into a new era," tweeted the team, quoting Zhang, along with the hashtag #StevenIsHere and several photos of its new president, whose billionaire father, Zhang Jindong, owns Suning Holdings Group electronics retailer and is a majority stakeholder of Inter.

"Warm wishes of good luck for the prestigious post and compliments for the milestone reached at a young age," Serie A President Gaetano Micciche tweeted.

"Inter is a synonym of glory, of victories and of history," Zhang told the shareholders' meeting in a speech posted on the team's official website. "Thanks to our work both on and off the field, Inter has returned to competing in the UEFA Champions League after a six-year absence."

The young businessman added that revenues rose to 347 million euros (395 million U.S. dollars) in fiscal year 2018, a nine percent increase compared to the previous year.

"Much of this is due to the development of commercial revenue in markets outside Italy," added Zhang. "We will continue in this direction, growing our revenue thanks to the club's great appeal throughout the world."

With its 346 million fans, Inter is the 11th most followed club in the world, he pointed out.

Zhang also said management has "concluded new partnerships" for the club, particularly in China, "thanks to Suning resources and to its widespread presence in the Asian continent".

Zhang replaces Indonesian Erick Thohir, who was at the helm of Inter for five years.