New era at Alibaba as Jack Ma rides into the sunset

Ma, who is expected to retain some advisory functions, has made little public comment recently about the transition, but last year expressed confidence Alibaba would remain successful. — Bloomberg

SHANGHAI: Jack Ma steps aside on Sept 10 as chairman of Alibaba, ending a spectacularly successful 20-year run during which the charismatic former English teacher's e-commerce company left a profound impact on China's economy.

Ma, who turns 55 on Tuesday, hands the reins of the company he co-founded to a team of executives led by CEO Daniel Zhang. Ma intends to put his US$41bil (RM171.08bil) fortune toward philanthropic projects such as education.