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 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.”