Alibaba set for ‘big challenge’ as flamboyant chairman Jack Ma departs

As Ma holds centrestage at his farewell party in the 80,000-capacity Hangzhou Olympic Sports Center stadium to the accompaniment of music and celebrity performances, attendees will be hoping to get clues on how Alibaba will be run under Zhang. — Reuters

SHANGHAI: Alibaba Group chairman Jack Ma will step down from the Chinese firm on Sept 10, leaving his handpicked successor a daunting task of steering the US$460bil (RM1.91tril) juggernaut at a time when the market for its core e-commerce business has slowed sharply.

As Ma, who turns 55 on Sept 10, holds centrestage at his farewell party in the 80,000-capacity Hangzhou Olympic Sports Center stadium to the accompaniment of music and celebrity performances, attendees will be hoping to get clues on how Alibaba will be run under his heir Daniel Zhang.