(BEIJING) — Jack Ma, who founded e-commerce giant Alibaba Group and helped launch China’s e-commerce boom, announced Monday he will step down as the company’s chairman next September. In a letter released by Alibaba, Ma said he will be succeeded by CEO Daniel Zhang, an 11-year veteran of the company. Ma handed over the CEO post to Zhang in 2013 as part of what he said was a long-planned succession process. Ma, a former English teacher, founded Alibaba in 1999 in an apartment in the eastern city of Hangzhou to connect Chinese exporters with foreign retailers.
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JOE McDONALD / AP, Time: Business
Sun, 09/09/2018 - 8:28pm
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