ADVERTISEMENT

Ma to step down as Alibaba chairman


Working together: Ma (left) talking to Zhang at the NYSE Bell Ringing ceremony. — Reuters

Working together: Ma (left) talking to Zhang at the NYSE Bell Ringing ceremony. — Reuters

BEIJING: Jack Ma, who founded e-commerce giant Alibaba Group and helped launch China’s online retailing boom, announced that he will step down as the company’s chairman next September.

In a letter released by Alibaba, Ma said he will be succeeded by CEO Daniel Zhang, an 11-year veteran of the company. Ma handed over the CEO post to Zhang in 2013 as part of what he said was a long-planned succession.

jack ma

   

ADVERTISEMENT