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Chinese E- Commerce Company Alibaba's Founder Jack Ma To Resign

Written By Nilanjana Roy | Mumbai | Published:

Hack:

  • Jack Ma, chairman, and co-founder of one of the leading e-commerce companies of China, Alibaba, will soon resign as the head of Alibaba on September 10, 2019
  • Chief Executive Officer of Alibaba, Daniel Zhang will be taking over the position from 2019
  • In 1999, Jack Ma founded Alibaba which went on to become one of the largest e-commerce giants in the country and also the world

Jack Ma, chairman, and co-founder of one of the leading e-commerce companies of China, Alibaba, will soon resign as the head of the company. As per company officials, Ma will step down from his post on September 10, 2019. As per reports, Chief Executive Officer of Alibaba, Daniel Zhang will be taking over the position from 2019. Ma has reportedly said that during his tenure for the last twelve months, he will be working with Daniel Zhang, to ensure that a successful transition should take place within the company.

Jack Ma added that he will be present at the board of directors meeting, which will take place in 2020. As per reports, the reason behind Ma's resignation is not clear but he might be returning back to education. Ma, one of the richest person in China, stepped down from the position of CEO of Alibaba in 2013. 

READ: US And China Will Shape The Planet -- India Will Be A Balancer, Says Rahul Gandhi Spelling Out Geopolitical Vision For India

Here's all you need to know about Jack Ma:

  • 54-year-old Jack Ma completed his graduation in 1988 from Hangzhou Normal University, China, he holds a BA Hons degree in English.
  • Ma started his career as a lecturer of English at Hangzhou Dianzi University. 
  • After facing rejection from job recruiters and Harvard Business school, Ma launched a website along with some friends. The launch of the website gathered him several economic investors from China. 
  • In 1995, he invested $20,000 and started his own company and reportedly the name of the company was 'China pages'. 
  • Ma was also one of the top heads of an IT company.
  • In 1999, he founded Alibaba which went on to become one of the largest e-commerce giants in the country and also in the world. 
  • Ma also tried his luck in acting and made his debut in 2017 in a short film titled 'Gong Shou Dao'

One of the leading magazines of the world, Forbes, ranked Ma as one of the world's most powerful people. Another leading magazine of America, Fortune, ranked him second in the World's 50 Greatest Leaders. 

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