Jack Ma To Hand Over Alibaba Chairman Role to CEO Daniel Zhang Next Year

Just a couple of days ago, Jack Ma seemingly announced his retirement. The Alibaba co-founder said he would retire from his leadership office and focus on philanthropic efforts. Well, turns out, Ma volition merely fully give up his position as executive chairman next September,handing over his duties to Primary Executive Officer (CEO) Daniel Zhang.

Ma will keep to hold the executive chairman position exactly for the 'next 12 months', during which he'll ensure a smooth transition to Zhang , who will take over on September 10, 2019. Ma farther plans to remain on the board until Alibaba'southward annual meeting of shareholders in 2020.

In an official argument (via GizChina), Ma talks almost his retirement and succession by saying:

Starting the process of passing the Alibaba torch to Daniel and his squad is the right decision at the correcttime, because I know from working with them that they are prepare, and I take complete confidence in our next generation of leaders.

Jack Ma To Hand Over Alibaba Chairman Role to CEO Daniel Zhang Next Year — Alibaba CEO Daniel Zhang / Paradigm Courtesy: Alizila

An agreeable tidbit virtually Ma'southward retirement and succession programme is that it has been set such that itcoincides with his birthday, which is today i.e September 10.

Ma further continues to add that no one person tin can forever hold the top-level position of the CEO or chairman. The transition in the company'south rank demonstrates that it has now started prepping for the next chapter, expanding Alibaba's e-commerce concern to new frontiers and building its cloud computing, digital payments, and health care businesses.

Every bit for what'south next, the executive, who's fondly known every bit Teacher Ma, is looking to get back to his roots finally and devote time to what he loves the most – pedagogy. Through his charitable foundation, Ma would be going back to where he began. In the official statement, Ma adds,

I likewise desire to return to education, which excites me with so much approving because this is what I love to do. The globe is large, and I am still immature, so I want to attempt new things – because what if new dreams tin can be realized?!

Ma, who transitioned from being an English language instructor to co-founding Alibaba 20 years ago, became the face and voice of the e-commerce giant on a global phase. It is thanks to his humble outlook, wit, and charisma that the company has managed to make a huge marking outside China.