Update: Era Ends as Alibaba Founder Jack Ma Prepares to Step Down
Jack Ma will retire as chairman of e-commerce giant Alibaba Group Holding Ltd. next year, marking the end of an era with the departure of one of China’s earliest internet pioneers.
Ma, who is also one of China’s richest men, will be replaced in his chairman’s role on Sept. 10, 2019, his 55th birthday, by current CEO Daniel Zhang, the company said in a statement Monday. The year will also mark the 20th anniversary of Alibaba’s founding. The company said over the weekend that Alibaba will announce a succession plan, but had not provided more specifics.
- 1Opinion: Sacrificing Half the World’s People Undercuts ‘The Wandering Earth’s’ Humanistic Message
- 2Two Large Chinese Borrowers Are Said to Miss Bond Payments
- 3China Biz Roundup Podcast: Factory Inflation Stalls, iPhone Discounts, and Private Kindergarten Closures
- 4Holiday Spending Bodes Poorly for China’s Economy This Year
- 5Indebted Chinese Investment Firm Turns to Thai Conglomerate for New Co-Chairman
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas