Alibaba Group founder Jack Ma, who helped kickstart China's online retail boom, steps down as chairman of the world's biggest e-commerce company
This file photo taken on January 10, 2017 shows Jack Ma, founder and executive chairman of Alibaba Group, arriving at Trump Tower for meetings with then President-elect Donald Trump in New York.
He will stay on as a member of the Alibaba Partnership, a 36-member group with the right to nominate a majority of the company's board of directors. The company has shifted focus to serving China's growing consumer market and expanded into online banking, entertainment and cloud computing. Domestic businesses accounted for 66 percent of its $16.7 billion in revenue in the quarter ending in June.Growth in online sales decelerated to 17.8 percent in the first half of 2019 amid slowing Chinese economic growth, down from 2018's full-year rate of 23.9 percent.
Alibaba's deputy chairman, Joe Tsai, told reporters in May the company is "on the right side" of issues in US-Chinese trade talks. Tsai said Alibaba stands to benefit from Beijing's promise to increase imports and a growing consumer market. At an annual Alibaba employee festival in Hanzhou, he has sung pop songs in costumes that have included blond wigs and leather jackets.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Jack Ma exits as China tech 2.0 unease sets inAlibaba's charismatic co-founder will step down as chairman. Ma was more politically deft than rivals like Tencent's Pony Ma, keeping his company out of regulatory trouble. His successor steps in at a tricky time: Beijing’s grip is tightening as the e-commerce boom cools.
Consulte Mais informação »
Alibaba set for 'big challenge' as flamboyant chairman Ma departsAlibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, ...
Consulte Mais informação »
Elon Musk and Jack Ma agree: The biggest problem the world will face is population collapseTesla CEO Elon Musk and Alibaba founder Jack Ma agree that the biggest problem the world will face in 20 years is population collapse.
Consulte Mais informação »
Jack Ma retires from Alibaba as he turns 55. What comes next?Jack Ma, the billionaire who ushered e-commerce into China, is officially stepping down as Alibaba's executive chairman on Tuesday. He's celebrating his retirement with a big bash at an Olympic-sized stadium in the company's hometown of Hangzhou.
Consulte Mais informação »
Jack Ma steps down as Alibaba's chairman. Here are key moments in the company's historyJack Ma, along with 18 others, founded Alibaba in 1999 and worked out of his apartment. Now the company is China's biggest e-commerce player, expanding into areas like cloud and food delivery. CNBC takes a look at the key moments in Alibaba's history.
Consulte Mais informação »
Alibaba set for 'big challenge' as flamboyant chairman Ma departsAlibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, ...
Consulte Mais informação »