One of the largest high-tech powers in China is escaping.
According to the New York Times, Alibaba co-founder and executive chairman (53-year-old Jack Mau) announced that he is about to withdraw from the e-commerce giant. He said that the reason for retirement was pursuing philanthropic focused education.
Saturday, South China morning edition announced that the horse will unveil the succession plan. In a press release issued on Sunday, Alibaba assumed that Ma resigned the president of the company for 12 months, until September 10, 2019, now the current CEO Daniel Chan. This is to "ensure smooth transition".
Horses will also remain at the Board of Directors of Alibaba until 2020.
Horse co-founded Alibaba with 17 other things in 1999. He helped make it a company with more than 500 million Chinese customers and a $ 420 billion company using the site to buy everything from cement garments. Alibaba now also offers digital payment, online banking, cloud computing, digital media and entertainment.
During his tenure Alibaba, the horse became the wealthiest in China, earning more than $ 40 billion in net assets.
This press release included letters addressed to Maiba customers and shareholders from Ma. He wrote as follows. "We are considering a lot of things and prepared this succession plan for ten years.
"For me, I am still pursuing many dreams … The one who knows me knows that I am not sitting in the sky, I would like to return to education as well.
Hope you like the above news
Alibaba Jack Ma Co-founder of retired people
. Stay Tuned For More Updates :)