Points to Remember:
- Chinese e-commerce giant Alibaba’s billionaire Co-founder, Jack Ma stepped down as Alibaba’s chairman, handing the role over to the company’s current CEO, Daniel Zhang.
The transition was announced a year ago.
- Ma will continue serving on Alibaba’s board until its annual general shareholders’ meeting next year.
- Ma left Alibaba’s CEO position in 2013 and was succeeded first by Jonathan Lu.
In 2015 Lu was replaced by Zhang, the company’s former COO. As its CEO and now its chairman
- Ma co-founded Alibaba in 1999 and is currently the world’s 20th richest person with $41.8 billion wealth, as per Bloomberg.
- A former English teacher, Ma last year said he will return to teaching after retirement.
About Alibaba Group:
- Alibaba Group Holding Limited is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology.
- CEO: Daniel Zhang
- Founded: 4 April 1999, Hangzhou, China
- Subsidiaries: Daraz, Alibaba.com, Alibaba Cloud, Alibaba Pictures, etc.
Important Possible questions based on above News:
- What is the name of Alibaba’s billionaire Co-founder, who has stepped down from the post of Alibaba’s chairman? Jack Ma
- Who is the present CEO of Alibaba group? Daniel Zhang