Alibaba’s Jack Ma To Step Down In 2019

Jack Ma, the charismatic co-founder of China’s largest e-commerce firm Alibaba Group Holding Ltd, will step down as chairman in exactly one year on Sept 10, 2019. 
Current Alibaba Chief Executive Daniel Zhang will replace him as chairman, while Ma will complete his current term on Alibaba’s board of directors following the company’s annual general meeting in 2020. 

Source- The Hindu Business Line

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Ma, who co-founded Alibaba in 1999, is one of China’s richest people with a net worth of $36.6 billion, according to Forbes. 
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