Jack Ma Announces Departure From E-commerce Outfit Alibaba

The co-founder of e-commerce firm Alibaba Group Holding Jack Ma has said he would leave the company on Sept. 10, 2019.

Ma made the disclosure on Monday in a letter which he captioned “Happy Teachers’ Day.”

His resignation means he would be leaving the company upon its 20th founding anniversary.

Concise News understands that Ma will be replaced by present Chief Executive Daniel Zhang.

However, Ma will still hold on to his role on Alibaba’s board of directors after the company’s annual general meeting in 2020.

He left his position as the company’s Chief Executive in 2013 with Zhang taking over.

“Under his [Zhang] stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters… Starting the process of passing the Alibaba torch to Daniel and his team is the right decision at the right time,” Ma said in a letter released by the company.

According to Ma, who turned 54, Monday, he would continue to mentor management as part of the “Alibaba Partnership.”