Plus   Neg

Alibaba: Jack Ma Retires As Chairman, CEO Daniel Zhang Succeeds

Alibaba Group Holding Limited (BABA) Chairman Jack Ma has stepped down from his role on September 10, as scheduled last year. Group Chief executive officer Daniel Zhang succeeded Ma as chairman of the Board of Directors.

Ma would complete his current term as a member of the board of directors until its annual general meeting of shareholders in 2020.

It was in September 2018 that Alibaba said that Zhang would succeed Ma as chairman of the board, starting September 10, 2019.

Ma is a lifetime partner in the Alibaba Partnership, which is currently comprised of 36 partners who are also members of senior management of Alibaba Group or its affiliates. He is also a member of its partnership committee.

In a letter issued last year to Alibaba's customers, employees and shareholders, Ma said, "with the approval of our board of directors, one year from today on September 10, 2019 which also falls on Alibaba's 20th anniversary, Group CEO Daniel Zhang will succeed me as chairman of the board of Alibaba Group."

"As for myself, I still have lots of dreams to pursue. .. I plan on continuing my role as the founding partner in the Alibaba Partnership and contribute to the work of the partnership," he then noted.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The University of Phoenix has agreed to pay a record $191 million to settle Federal Trade Commission charges alleging that the university used deceptive advertisements. According to the FTC, the university used deceptive advertisements that falsely touted their relationships and job opportunities... General Motors introduced new versions of its Chevrolet Tahoe and Suburban full-size SUVs that are bigger than previous models, offer more interior space and feature more advanced technology. The new vehicles join the new Silverado and Silverado HD as part of a complete redesign of Chevrolet's full-size truck and SUV lineup within 24 months. They will go on sale in mid-2020 in North America. Apple unveiled a new feature for the Apple Card, enabling cardholders to buy a new iPhone in 24 monthly installments without paying interest. In October, during Apple's earnings call, CEO Tim Cook had announced the tech giant's plans to introduce this feature. The Apple Card, Apple's first credit card, was introduced by the tech giant in March in partnership with Goldman Sachs and Mastercard.
Follow RTT