Business Related News

Ali Baba Gets New Chairman

Jack Ma, the originator of Alibaba, the Chinese e-commerce behemoth, is stepping down as director today. Daniel Zhang will officially take over the restraints of Alibaba and work as the chairman of the organisation.
• Ma first left as Alibaba’s chief executive administrator in 2013 and was succeeded by Jonathan Lu. In 2015, Daniel Zhang succeeded Jonathan Lu.
• Ma, the retired English teacher, has interestingly decided Chinese Teachers Day as the time for his departure.
• He will remain to work on Alibaba’s board till the annual general bondholders’ meeting in 2020. Ma will also remain to life partner of Alibaba Partnership, a group including of 36 members who have the right to choose a majority of the company’s board of directors.
In a video posted on Monday, Ma stated: “I’m the person always looking forward. I don’t want to look at the things back.”
1. The organisation was established by a gathering of 18 people headed by Ma. The organisation operated from Ma’s home in Hangzhou.
2. China’s e-commerce location is no more controlled by Alibaba.

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