International Development News
Development News Edition

Alibaba's Jack Ma to step down in Sept 2019, Zhang to become new chairman


Alibaba's Jack Ma to step down in Sept 2019, Zhang to become new chairman
Image Credit: Wikipedia

BEIJING, Sept 10 (Reuters) - Jack Ma, the charismatic co-founder and chairman of China's largest e-commerce firm Alibaba Group Holding Ltd, has begun making arrangements to step down as part of a long-term transition plan, the company said on Monday.

Ma will step down in exactly one year on Sept. 10, 2019, and current Alibaba Chief Executive Daniel Zhang will replace him as chairman.

Ma will complete his current term on Alibaba's board of directors following the company's annual general meeting in 2020.

He relinquished the role of chief executive in 2013. Zhang, 46, has been in the job since 2015 after serving as the company's chief operating officer.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION/BLOG/INTERVIEW

'No escape from telephones', this 1953 prediction actually comes true

In 1953, a telephone company chief predicted that therell be no escape from telephones in the future....

With Ayodhya verdict, CJI starts clearing high profile pending cases

Ending all the speculations, the Chief Justice of India Mr. Ranjan Gogoi who is due to retire on November 17 decided to deliver the verdict in Ayodya dispute at 10.30 am on Saturday which is not a working day for the Supreme Court. This is ...

How partnerships and collaborations could enhance teacher training

Monica Malhotra Kandhari, Managing Director, MBD Group shares her views on public private partnership and collaborations in education sector. She supports her propositions with her organisations success stories....

Fixed Test centers would facelift level of WTC in India

The venues for the test matches in India should be fixed so that World Test Championship matches remain fair....

Videos

Latest News

UPDATE 3-U.N. warns Bolivia crisis could 'spin out of control' as death toll mounts

The United Nations warned on Saturday violence in Bolivia could spin out of control following recent skirmishes between security forces and coca farmers loyal to ousted President Evo Morales that have left nine dead. Morales resigned under ...

UPDATE 3-Britain's Prince Andrew 'categorically' denies sex claims

Britains Prince Andrew said he could not have had sex with a teenage girl at a socialites London home because he returned to his house after a childrens party on the night in question and has no recollection of ever meeting her. The rare in...

UPDATE 1-China demands repentance from outspoken Australian lawmakers

Two Australian lawmakers who had been denied entry to China for a study tour because of their outspoken criticism of Beijing must repent and redress their mistakes if they want to visit the country, China said late on Saturday. Andrew Hasti...

UPDATE 6-Pence aide said Trump's Ukraine phone call was 'unusual and inappropriate'

The phone call between U.S. President Donald Trump and his Ukrainian counterpart at the center of Congress impeachment investigation was inappropriate, a foreign policy aide to Vice President Mike Pence told lawmakers, according to a transc...

Give Feedback