Hotline: 1800 102 2007
X
Search Business Opportunities
Sep, 11 2018

Jack Ma to step down as executive chairman of Alibaba

Alibaba’s current Chief Executive Officer, Daniel Zhang, will replace him as Chairman.

Jack Ma, the Co-founder of China's largest e-commerce firm Alibaba Group Holding Ltd, will step down as Executive Chairman of the company in one year. Alibaba’s current Chief Executive Officer, Daniel Zhang, will replace him as Chairman.

Ma will remain on Alibaba’s board of directors until 2020. He co-founded the company in 1999.

Ma said, "Starting the process of passing the Alibaba torch to Daniel and his team is the right decision at the right time, because I know from working with them that they are ready. Since he took over as CEO, he has demonstrated his superb talent, business acumen and determined leadership."

Mark Tanner, Founder of Shanghai-based research and marketing company China Skinny, said, "Ma possesses an enviable clarity about how everything fits together. He has understood Chinese consumer needs better than anyone and provided online services to meet them through convenience, entertainment and efficiencies."

Ma, who was a former English teacher, is planning to shift his focus to philanthropy and education. This will take him back to his profession before starting an e-commerce empire.

"I’ve prepared a Jack Ma Foundation. All these things that I’ve been preparing for 10 years. There are a lot of things I can learn from Bill Gates. I can never be as rich, but one thing I can do better is to retire earlier," Ma said.

Comment
Related opportunities
  • About Us: G-TEC EDUCATION is one of the largest networks in..
    Locations looking for expansion Kerala
    Establishment year 2001
    Franchising Launch Date 2001
    Investment size
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater Kozhikode Kerala
  • Tea and Coffee Chain
    About Us: Belief: “as is sound, so as echo” Mission: “best tea every t..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • About Us  woodee pizza is a revolutionary vision of 2 young..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Competitive Exam Coaching Institute
    Career Power - The best opportunity you have to become..
    Locations looking for expansion New Delhi
    Establishment year 2010
    Franchising Launch Date 2014
    Investment size Rs. 10lac - 20lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities