Alibaba’s Chief Executive Jack Ma is stepping aside

For several days, Alibaba’s chief executive Jack Ma was upset. Today, he wrote a letter on Monday and cleared the matter. In the letter, she said that she is leaving Alibaba. Alibaba has said it will replace Jack Mack to Alibaba Board of Chairman, Chief Executive Officer Daniel Zhang. He will take office on September 10 next year.

Alibaab said in a statement that the next year will be the chairman of the executive chair of the mother. During this time, Zhang will understand his responsibilities. However, he has expressed his desire to remain in the Alibaba board until the annual shareholders meeting of 2020.

In the letter to Alibaba subscribers and investors, Jack Ma wrote, The change in alibaba shows that Alibaba has reached the next stage of corporate governance from the place of personal reliance.

Jack Ma wrote, “The alibaba light can start the matter of reaching the hands of Daniel and his team, the right decision at the right time. Because, while working with them, I have seen that they are ready. There is full confidence in our next generation leadership. ‘

Jack Ma said, he will continue to play his role as a founding partner in Alibaba Partnership. Alibaba Partnership is a group of 36 senior leaders who believe in the goals, objectives and values ​​of the organization.

Jack Ma writes about his future plans, ‘I want to return to the world of education again. Let me excite this. I love to do it. ‘

Media analyst Gilbert Davison and company analyst at the CNBC market analyst GA Davis said, “It is not surprising to place Zang in place of my mother.” He was chairman five years ago. Now he is making space for Zhang, Executive Vice Chairman Joe Psi, Chief Financial Officer Magy Yoo and others. He has successfully managed Alibaba for a long time. He is leaving the post in a systematic way.

According to Laura, Jack will step aside but there will not be much change in Alibaba. Without the mother of Jack, there will be little difference in their contact with the universe outside of investment. Jack’s mother was the leader of the colorful and charisma that communication would go away. But Alibaba plans will not change much.

Former English teacher Jack Ma founded Alibaba in 1999. He is now considered to be the richest person in China. According to Forbes, his total assets amounted to 3,660 million US dollars. Alibaba started its journey as a e-commerce marketplace in Hangzhou, China, and succeeded in another business. In 2013, Jack, who stepped down from the position of Chief Executive Officer and Jack Macken Foundation, spent many charitable activities.

Last week, in an interview with the New York Times, Jack Ma asked to step aside from Alibaba. However, on Sep 8, a spokesman for Alibaba in the South China Morning Post owned by Alibara claimed that the Times report was not correct.

At the end of the departure letter, Alibara founder Jack Ma said, ‘My commitment, Alibaba was never for Jack’s mother, but Jack would remain forever for Alibaab.’