Jack Ma's decision to retire as chairman of Alibaba on his 55th birthday brings down the curtain on one of the world's most extraordinary entrepreneurial careers.
: Alibaba CEO Daniel Zhang is poised to succeed Jack Ma as executive chairman of e-commerce giant Alibaba after China’s richest man fulfilled his pledge to step down on his 55th birthday. Ma’s resignation is unlikely to see him retreat into the shadows but Alibaba will embark on a new era without its public face.
Ma will remain on Alibaba’s board until 2020, while Zhang, 47, his handpicked successor will helm the 20-year old, $460 billion e-commerce juggernaut. He has held a number of leadership roles within the Group over his 12 years there, including its e-shopping subsidiaries TaoBao and Tmall. He was previously chief operating officer of Alibaba.
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