The founder of the Chinese ecommerce giant will hand over the role to Daniel Zhang, currently chief executive officer. Ma has pointed out that his exit will enable “younger and more talented” people to be at the front.
A historical change is set to take place at the helm of Alibaba. Jack Ma, founder and chairman of the ecommerce company, will leave his role next year, a move that will enable “younger and more talented” people to take over in leadership roles. Until then, Ma will maintain his position as executive chairman.
Daniel Zhang, current chief executive officer of Alibaba, will become chairman on September 10, 2019. He’ll continue to be part of the group’s board of directors until the annual shareholders meeting scheduled in 2020.
“No company can rely solely on its founders: of all people, I should know that”, expressed Ma on a letter. “Because of physical limits on one’s ability and energy, no one can shoulder the responsibilities of chairman and CEO forever.”
Jack Ma (Alibaba): “Because of physical limits on one’s ability and energy, no one can shoulder the responsibilities of chairman and CEO forever”
Several Chinese media sources have pointed out that the leadership shift at the helm of Alibaba won’t cause any relevant change concerning the group operations. “I will work closely with Daniel to ensure a smooth and successful transition”, said the current chairman.
Ma left the chief executive role in 2013, a time when he also moved away from day-to-day operations and management issues, focusing his efforts on philanthropy through the Jack Ma Foundation.