Jack Ma to Resign on Sep 10, 2019

BY SILVI WRITER

 

China’s business magnate Jack Ma announced he would resign as Alibaba’s executive chairman on Sep 10, 2019, in an open letter published on Monday.

Daniel Zhang Yong, the group’s director and chief executive officer, will take over the position, Ma said in the letter.

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Daniel Zhang Yong, Director and Chief Executive Officer of Alibaba, is set to take over the baton from Jack Ma in one year

Next year will mark the 20th birthday of Alibaba, the world’s largest e-commerce company founded by Ma in 1999.

He said he would “return to education” in the future. Ma used to be an English teacher before founding Alibaba.

“What I can promise to everyone is Alibaba never belongs to Jack Ma, but Jack Ma will always belong to Alibaba,” he wrote in the last line of the letter.

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