Monday, 23 September, 2019


Alibaba Chairman Jack Ma Steps Down From Chinese Internet Giant

Jack Ma giving up the reins of Alibaba Group Jack Ma says goodbye to Alibaba on his 55th birthday
Conrad Doyle | 11 September, 2019, 10:28

He will stay on as a member of the Alibaba Partnership, a group of 36 people with the right to nominate a majority of the company's board of directors.

"The value of life should be seen in what a man has experienced and not in what he has received", Ma said, noting that he is not "retiring" but to spend more time and energy on education, philanthropy and environmental protection.

"He has the logic and critical thinking skills of a super computer, a commitment to his vision, the courage to wholeheartedly dare to take on innovative business models and industries of the future", Ma said about Zhang past year.

"His influence will remain and he will still steer Alibaba in the company's general strategy and business direction", he said.

While Ma no longer manages Alibaba's daily operations, after stepping down as CEO, he remains the company's public face, travelling the world to preach on the benefits of technological advancement.

Attributing the company's success to the good fortune which came from its desire to promote the progress of society and help small enterprises and employees grow, Ma said he was lucky to find a competent team. "Because of physical limits on one's ability and energy, no one can shoulder the responsibilities of chairman and CEO forever". He announced previous year that he would be standing aside to devote more time to "education, philanthropy and the environment". He has also cited the Bill and Melinda Gates Foundation as an inspiration.

Ma speaks to staff at his Hangzhou apartment in 1999. In terms of management style, Zhang is more pragmatic and reserved than Jack Ma. Before becoming a tech titan, he was an English teacher who made $12 a month working at a local university. "I'm still very young, and there are many places I want to visit and many more things to do, among them of course environmental protection and social service".

"Ma's position as Alibaba's spiritual leader would not change even after Tuesday, Liu Xingliang, director of the Beijing-based Data Centre of China Internet, told the Global Times on Monday".

He has also spoken particularly of educational challenges in the future.

Reports past year said he was a member of the ruling Communist Party of China (CPC) like most of the Chinese celebrities.

The world is entering a transition period, Ma said.

Mr Zhang, also clad in rock superstar garb, then delivered a solo, having earlier acknowledged that Alibaba would retain investing in areas equivalent to cloud computing.

The Hangzhou native, a former English teacher, said he had been preparing for this moment for 10 years, and he called on businesses to truly embrace sustainable development, inclusiveness and altruism, the three biggest factors for a successful business.

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