AliBaba Announces CEO Daniel Zhang After Jack Ma Announces Retirement

Fizza AtiqueLast Updated: Sep 10, 2018
AliBaba Announces CEO Daniel Zhang After Jack Ma Announces Retirement

The CEO and Co-Founder of Alibaba, Jack Ma Announces Retirement as the Chief Executive of the World’s fifth largest internet company.

Jack Ma Announces Retirement: Here’s Why

After the retirement news from Jack Ma, Alibaba Group announced that the CEO, Daniel Zhang will be the chairman. After stepping down as chairman on September 12, 2019, Jack Ma will continue serving as a board member until its annual general shareholders’ meeting in 2020.

After that Jack Ma will remain the partner of Alibaba Partnership. Jack Ma was the co-founder of Alibaba initiated in 1999 as an online marketplace.

Ma stepped down as CEO in 2013, handing the position over to Jonathan Lu. Lu ended up being replaced in 2015 by Zhang, Alibaba’s COO that is former Ma apparently told workers so it’s time for the organization to be run by individuals created into the 1970s and after (Zhang came to be in 1972, 36 months after Lu).
Jack Ma has sent a letter to media outlets today, Ma wrote that:
Zhang has demonstrated his superb talent, business acumen and determined leadership since taking over as CEO. Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters. His analytical mind is unparalleled, he holds dear our mission and vision, he embraces responsibility with passion, and he has the guts to innovate and test creative business models.”

Ma added that:

“this transition demonstrates that Alibaba has stepped up to the next level of corporate governance from a company that relies on individuals, to one built on systems of organizational excellence and a culture of talent development.”

Also Read: Telenor Delegation Calls on CEO Ali Baba, Jack Ma in Hongzhou

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Fizza AtiqueLast Updated: Sep 10, 2018
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Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.

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