Alibaba’s chairman to step down in September 2019


Alibaba Group Holding Limited has announced that on September 10, 2019, chief executive officer Daniel Zhang will succeed Jack Ma as chairman of the board of Alibaba Group. Jack Ma will continue as executive chairman of the company over the next 12 months to ensure a smooth transition of the chairmanship to Jack Zhang.

Ma will complete his current term as a member of Alibaba Group’s board of directors until its annual general meeting of shareholders in 2020. He is a lifetime partner in the Alibaba Partnership and is a member of its partnership committee.

“The world is big, and I am still young, so I want to try new things,” Ma said, adding he plans to return to a career in education.

Zhang joined Taobao in 2007 as Chief Financial Officer of the consumer-to-consumer marketplace. He pioneered the company’s push into getting established brands to sell to customers and is credited with helping turn Singles’ Day into a Chinese shopping bonanza.

Source: Alibaba Group