• Burmese
Wednesday, June 18, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
30 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Asia

Alibaba’s Jack Ma to Step Down in One Year, Zhang to Become Chairman

Reuters by Reuters
September 10, 2018
in Asia
Reading Time: 2 mins read
0 0
A A
Jack Ma, founder of Chinese e-commerce giant Alibaba, speaks during the launch of Alibaba's office in Kuala Lumpur, Malaysia, June 18, 2018.  / Reuters

Jack Ma, founder of Chinese e-commerce giant Alibaba, speaks during the launch of Alibaba's office in Kuala Lumpur, Malaysia, June 18, 2018.  / Reuters

5.2k
VIEWS
Share on FacebookShare on Twitter

BEIJING — Jack Ma, the charismatic co-founder of China’s largest e-commerce firm Alibaba Group Holding Ltd, will step down as chairman in exactly one year on Sept. 10, 2019, the company said.

Current Alibaba Chief Executive Daniel Zhang will replace him as chairman, while Ma will complete his current term on Alibaba’s board of directors following the company’s annual general meeting in 2020.

Ma, who turned 54 on Monday, relinquished the role of chief executive in 2013. Zhang, 46, has been in the job since 2015 after serving as chief operating officer and is known as a key architect of Alibaba’s “Singles Day”, the Nov. 11 event that has become the world’s largest online shopping event.

RelatedPosts

Chameleon Crony: How Myanmar’s ‘Baby’ Tycoon Thrived Across Four Eras

Chameleon Crony: How Myanmar’s ‘Baby’ Tycoon Thrived Across Four Eras

June 10, 2025
4.3k
Trump-Musk Alliance Melts Down in Blazing Public Row

Trump-Musk Alliance Melts Down in Blazing Public Row

June 6, 2025
505
ASEAN Corporate Giants Fueling Myanmar Junta’s War Crimes: JFM

ASEAN Corporate Giants Fueling Myanmar Junta’s War Crimes: JFM

May 26, 2025
2.3k

“Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters… Starting the process of passing the Alibaba torch to Daniel and his team is the right decision at the right time,” Ma said in a letter released by the company.

Zhang will also retain the CEO title, the company said.

Ma, who co-founded Alibaba in 1999, is one of China’s richest people with a net worth of $36.6 billion, according to Forbes. The company has grown to have more than 66,000 full-time employees and a market value of some $420 billion.

Ma said that after he steps down from his current roles he will continue to mentor management as part of the “Alibaba Partnership”, a 36-member group of core company managers.

The group has the ability to nominate the majority of directors on the company’s board.

A former English teacher with no technical background, Ma has a large popular following in China and is seen as an icon of self-made wealth.

He is also known for his eccentric personality and has donned wigs and costumes to perform highly choreographed pop routines at company events. Last year he starred alongside Chinese action star Jet Li in a short kung fu film.

Since handing over the CEO role, Ma has concentrated on philanthropy and promoting Alibaba internationally at business and political events.

Last year Ma invested 300 million yuan ($45 million) in a rural education project in China. He has also established a scholarship program in Newcastle, Australia.

Ma, who also controls Alibaba payment affiliate Ant Financial, is stepping back amid more challenging times for Chinese tech companies as sales growth in China’s eastern mega-cities shows signs of slowing.

Alibaba maintained robust revenue growth in the first half of 2018, but its profit margins have been squeezed by big-ticket investments as it battles to maintain pole position in payments and e-commerce. ($1 = 6.8526 Chinese yuan)

Your Thoughts …
Tags: Business
Reuters

Reuters

...

Similar Picks:

Post-Coup Myanmar is a Family Business: Min Aung Hlaing & Co
Burma

Post-Coup Myanmar is a Family Business: Min Aung Hlaing & Co

by David Aung
February 8, 2024
17.9k

Min Aung Hlaing is an opportunistic businessman in military uniform and his children are more mercenary than the offspring of...

Read moreDetails
KIA Seizes Myanmar Junta’s Last Remaining China Trade Route in Kachin State
War Against the Junta

KIA Seizes Myanmar Junta’s Last Remaining China Trade Route in Kachin State

by The Irrawaddy
June 14, 2024
17.1k

The military regime has also lost control of all border trade in neighboring northern Shan State.

Read moreDetails
Myanmar Junta Reportedly Set to Prosecute High-Profile Businessmen for Corruption
Junta Cronies

Myanmar Junta Reportedly Set to Prosecute High-Profile Businessmen for Corruption

by The Irrawaddy
October 18, 2023
15.9k

Regime cronies Thein Win Zaw and Mu Mu Shein are set to follow former lieutenant general Moe Myint Tun as...

Read moreDetails
Myanmar Junta’s ‘Brainless’ Response to Soaring Gold Prices Leaves Market in Disarray
Analysis

Myanmar Junta’s ‘Brainless’ Response to Soaring Gold Prices Leaves Market in Disarray

by Hein Htoo Zan
June 4, 2024
14.8k

Arrests, corruption, false receipts—the crisis in the gold and currency markets bears all the hallmarks of the junta’s inability to...

Read moreDetails
Myanmar’s Multibillion-Dollar Jade Trade ‘Crashing’ as China Clamps Down  
Business

Myanmar’s Multibillion-Dollar Jade Trade ‘Crashing’ as China Clamps Down  

by The Irrawaddy
June 5, 2024
14.3k

Crackdown on border scams and tax fraud is taking heavy toll on gems trade, say merchants.

Read moreDetails
Scam Operations Flourish in Myanmar’s Biggest City
Investigation

Scam Operations Flourish in Myanmar’s Biggest City

by The Irrawaddy
March 7, 2024
10.2k

Under the noses of junta officials, online scam syndicates freely operate in Yangon as government-registered companies, an investigation by The...

Read moreDetails
Load More
Next Post
The head pastor of the Zion church in Beijing Jin Mingri poses for picures in the lobby of the unofficial Protestant "house" church in Beijing, China, August 28, 2018.  / Reuters

China Outlaws Large Underground Protestant Church in Beijing

The skyline is seen through morning air pollution in Bangkok, Thailand on February 8, 2018. / Reuters

‘Good Progress’ at Bangkok Climate Talks on Draft Paris Agreement Rules: UN Official

No Result
View All Result

Recommended

China is Systematically Dismantling Tibetan Monastic Traditions

China is Systematically Dismantling Tibetan Monastic Traditions

2 days ago
1.5k
China’s Bet on Myanmar Junta Risks Backfiring

China’s Bet on Myanmar Junta Risks Backfiring

1 day ago
1.3k

Most Read

  • Myanmar Junta Attacks to Reclaim KIA’s Jade and Rare Earth Strongholds

    Myanmar Junta Attacks to Reclaim KIA’s Jade and Rare Earth Strongholds

    shares
    Share 0 Tweet 0
  • Updated Timeline: Key Events in the Life of Myanmar’s Daw Aung San Suu Kyi

    shares
    Share 0 Tweet 0
  • China’s Bet on Myanmar Junta Risks Backfiring

    shares
    Share 0 Tweet 0
  • China is Systematically Dismantling Tibetan Monastic Traditions

    shares
    Share 0 Tweet 0
  • Israel-Iran Conflict: Latest Developments

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.