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Home / Business / Jack Ma officially resigns as Chairman of Alibaba – TechCrunch

Jack Ma officially resigns as Chairman of Alibaba – TechCrunch



Jack Ma resigned as Chairman of Alibaba today, leaving the role of the company's current CEO Daniel Zhang. The transition was announced a year ago.

Ma will continue to serve on Alibaba's Board of Directors until its Annual General Meeting next year. He also remains a lifelong partner in the Alibaba Partnership, a group drawn from the top management of Alibaba Group companies and affiliates that have the right to nominate (and in some situations nominate) up to a simple majority of the board. [19659002] Ma said in last year's announcement that he plans for his departure from the Alibaba Group to be very gradual: "The only thing I can promise everyone is this: Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba."

Ma left Alibaba's CEO position in 201

3 and was first followed by Jonathan Lu. In 2015, Lu was replaced by Zhang, the company's former COO. As CEO and now chairman of the board, Zhang has taken Alibaba's reins as it tackles a slowdown in China's e-commerce market after a decade of explosive growth. The online store landscape now also includes new players like Pinduoduo, who have gained an advantage by focusing on smaller cities, important growth markets for Internet businesses.

An interesting fact of the day that Ma chose his retirement as chairman is that it is Teacher's Day in China. Ma is a former English teacher who still has the nickname "Teacher Ma" and has said that he plans to spend time on educational philanthropy.


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