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Jack Ma is no longer the head of Alibaba

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Jack Ma is no longer the head of Alibaba
September 11
13:00 2019

The CEO of Alibaba Group Daniel Zhang will also serve as the head of the company. According to Bloomberg, its founder Jack Ma has resigned. We recall that a public promise to take such a controversial step was made by the talented Chinese businessman about a year ago.

Mr. Ma will be part of the board of directors until the annual meeting next year. He will also remain a regular participant in Alibaba’s partnership. This status is given to senior managers of the Group and its companies. Partners can nominate and appoint the simple majority of board members.

Before starting the company, Ma was an ordinary teacher. Because of this, he is still called “Teacher Ma.” It so happened that he had retired on Teacher’s Day celebrated in China on September 10. Also, that day Jack Ma was celebrating his 55th birthday. Mr. Ma said that he planned to devote most of his time to charitable activities in the field of education.

He stopped his career as CEO at Alibaba in 2013. Then Jessica Liu replaced him. In 2015, Mr. Zhang got this job.

According to the Bloomberg ranking of the richest people, Jack Ma ranks second in Asia. His fortune is estimated at about 42 billion US dollars.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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