Beemster makes it better
Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
Alibaba's Founder, Jack Ma, Exits Executive Chairman Post; Company Announces Daniel Zhang will Succeed Ma as Executive Chairman of the Board

Alibaba's Founder, Jack Ma, Exits Executive Chairman Post; Company Announces Daniel Zhang will Succeed Ma as Executive Chairman of the Board


HANGZHOY, CHINA
Tuesday, September 11th, 2018

Amidst reports that Alibaba is further growing its business in Russia with a deal in e-commerce underway, the retailer is making moves in its executive lineup. Founder and Executive Chairman Jack Ma is leaving his post on the Board, and Chief Executive Officer Daniel Zhang is stepping in to fill the position. The transition will occur on September 10th of 2019, so Ma will finish out this coming year, while Zhang prepares for his new title. Further, Ma will serve out the rest of his term on the Board of Directors through 2020, when the annual general meeting of shareholders is held.

Jack Ma, Founder and Executive Chairman, Alibaba Group“I have put a lot of thought and preparation into this succession plan for ten years. I am delighted to announce the plan today thanks to the support of the Alibaba Partnership and our board of directors. I also want to offer special thanks to Alibaba colleages and your families, because your trust, support, and our joint enterprise over the past 19 years have prepared us for this day with confidence and strength,” Ma shared in a letter. “This transition demonstrates that Alibaba has stepped up to the next level of corporate governance from a company that relies on individuals, to one built on systems of organizational excellence and a culture of talent development.”

According to a press release, Ma is a lifetime partner in Alibaba Partnership—which currently consists of 36 partners, who are also members of senior management for the company and its affiliates—and he is a member of the company’s partnership committee.

Daniel Zhang, who has been with Alibaba Group for 11 years, will take Jack Ma's place as Executive Chairman of the Board for Alibaba Group on September 10th of next year

“Daniel has been with Alibaba Group for 11 years. Since he took over as CEO, he demonstrated his superb talent, business acumen, and determined leadership. Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters. His analytical mind is unparalleled, he holds dear our mission and vision, he embraces responsibility with passion, and he has the guts to innovate and test creative business models,” Ma shared in the letter. “Deservedly, China's business news media has named him the No. 1 CEO in 2018. For these reasons, he and his team have won the trust and support of customers, employees, and shareholders. Starting the process of passing the Alibaba torch to Daniel and his team is the right decision at the right time, because I know from working with them that they are ready, and I have complete confidence in our next generation of leaders.”

Congratulations to Jack Ma and Daniel Zhang on this next chapter in the Alibaba journey!

Alibaba Group
Topics:


Beemster makes it betterEiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature

Have a new product, press release or story idea?

Let us know

In This Story


Alibaba.com is a global e-commerce platform that connects buyers and suppliers around the world.

Good Food Media Network Releases 2018 Good Food Restaurants™ List

The company releases its annual rating and economic report offering insight into the purchasing practices of chefs and restaurants and their commitment to sustainable sourcing.
View Press Release

Charlotte-Based Hissho Sushi Debuts at Bank of America Stadium for Carolina Panthers’ 2018-2019 Season

The company provides visitors and Panthers fans sophisticated, fresh options like the California Roll, Spicy Tuna Roll, and Crispy Crab Roll.
View Press Release

P3 Named Official Protein Snack of UFC®

UFC® announced a new marketing partnership with Oscar Mayer®.
View Press Release

New Tuscanini Parchment Crackers Bring the Sun-Kissed Taste of Italy to America's Table

Three handmade varieties deliver a sophisticated touch to meals and light snacks.
View Press Release

WCMA Launches Workforce Committee to Address Labor Challenges

The Association's Inaugural Meeting is set for October 23 in Monroe, Wisconsin.
View Press Release