Jack Ma, founder and chairman of China's e-commerce giant Alibaba Group, attends a plenary session on E Commerce during the 48th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan 24, 2018. [Photo/Xinhua]
Alibaba Executive Chairman Jack Ma announced on Monday that he will retire from his position on September 10, 2019, appointing current CEO Daniel Zhang as his successor.
An official statement released by Alibaba said that Ma will remain in his role as executive chairman for the next 12 months to ensure a smooth transition.
Jack Ma was an English teacher before creating the e-commerce giant Alibaba in 1999. He has turned the company into one of the world's leading e-commerce companies. When the Alibaba Group listed on the New York Stock Exchange in 2014, Jack Ma became one of the richest men in China. According to Forbes, his net worth this year is around 40 billion U.S. dollars.
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