Markets

Alibaba: Jack Ma Retires As Chairman, CEO Daniel Zhang Succeeds

(RTTNews) - Alibaba Group Holding Limited (BABA) Chairman Jack Ma has stepped down from his role on September 10, as scheduled last year. Group Chief executive officer Daniel Zhang succeeded Ma as chairman of the Board of Directors.

Ma would complete his current term as a member of the board of directors until its annual general meeting of shareholders in 2020.

It was in September 2018 that Alibaba said that Zhang would succeed Ma as chairman of the board, starting September 10, 2019.

Ma is a lifetime partner in the Alibaba Partnership, which is currently comprised of 36 partners who are also members of senior management of Alibaba Group or its affiliates. He is also a member of its partnership committee.

In a letter issued last year to Alibaba's customers, employees and shareholders, Ma said, "with the approval of our board of directors, one year from today on September 10, 2019 which also falls on Alibaba's 20th anniversary, Group CEO Daniel Zhang will succeed me as chairman of the board of Alibaba Group."

"As for myself, I still have lots of dreams to pursue. .. I plan on continuing my role as the founding partner in the Alibaba Partnership and contribute to the work of the partnership," he then noted.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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