Jack Ma Alibaba

Recently Alibaba’s co-founder and executive chairman Jack Ma made an announcement that he would retire from his role as executive chairman at Alibaba Group Holding Ltd. Now according to the GizChina report via a press release, company’s CEO Daniel Zhang will hold as the Next Executive Chairman of Alibaba Group next year in 2019. However, Jack Ma wrote in the press release that he will continue the role of executive chairman till September 10, 2019, to ensure a smooth transition of power, which also marks Alibaba’s 20th anniversary. He will also continue to serve as a member of Alibaba’s Group Board of Directors until the 2020 Alibaba Annual General Meeting.

Jack Ma also thanked Alibaba’s partners and board of directors for their approval stating that the company is now way above a single individual as it now relies on organizational mechanisms and relying on talent culture.

Here is the Short Note from the Press Release

Dear Alibaba customers, Aliren, and shareholders,

Today, as we mark the 19th anniversary of Alibaba, I am excited to share some news with you:

with the approval of our board of directors, one year from today on September 10, 2019which also falls on Alibaba’s 20th anniversary, Group CEO Daniel Zhang will succeed me as chairman of the board of Alibaba Group. While remaining as executive chairman in the next 12 months, I will work closely with Daniel to ensure a smooth and successful transition. Thereafter, I will stay on the Alibaba board of directors until our annual shareholders meeting in 2020.