One of the most surprising announcements we’ve encountered recently.
Jack Ma, CEO of Alibaba, founded the company in 1999 and since then turned it into a monster because of financial companies and of course Ali Express. Ma has decided that he wishes to step down as CEO.
In the report, Jack Ma said he was appointing CEO Daniel Zhang, and that he would remain on the board for at least a year to ensure the smooth transition of the company to the new CEO. This is a surprise because there were no early signs that he intended to leave his position.
According to Ma, he intends to focus on philanthropy. It is thought that he will probably focus on education because this is a topic he is close to. Before becoming the leader of a commercial empire worth billions, he was an English teacher in China.
Thus he signed the letter to employees and management,
“The one thing I can promise everyone is this: Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba,”