×
194
Fashion Jobs
THINK FIRST DIGITAL
Hiring For Event Production Manager - Mumbai
Permanent · Mumbai
LUPIN
Opportunity For Area Manager - Mass Marketing - Lupin Ltd
Permanent · Pune
SOBHA
Manager - Sales at Sobha Nesara, Kothrud - Pune
Permanent · Pune
MIDAS HYGIENE INDUSTRIES PRIVATE LIMITED
Area Sales Manager - Punjab
Permanent · Jalandhar
PETPOOJA
Area Sales Manager || Software Sales (Pos) || Petpooja
Permanent · Navi Mumbai
FLEETX
Assistant Area Sales Manager/ Area Sales Manager
Permanent · Haldia
FLEETX
Area Sales Manager
Permanent · Tirunelveli
MINIVEL SERVICES
Area Sales Manager - Insurance Company
Permanent · Bengaluru
POLYCAB
Area Sales Manager
Permanent · Chennai
ACME SERVICES PRIVATE LIMITED
Purchase Manager For a Leading Textile Brand
Permanent · Mumbai
SBFC FINANCE
Area Sales Manager And Sales Manager- Loan Against Property
Permanent · Ahmedabad
GRAND CHEMICAL WORKS
Area Sales Manager- Lucknow (gt Fmcg)
Permanent · Lucknow
GRAND CHEMICAL WORKS
Area Sales Manager - Jaipur (gt)
Permanent · Kota
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
SURYA FOOD AGRO LTD
Production Manager
Permanent · Greater Noida
SHYAM STEEL INDUSTRIES
Require Area Sales Manager For Different Locations at Bihar
Permanent · Madhepura
PINKODE REALTY LLP
Hiring For Asm/Sales Managers
Permanent · Mumbai
FRQ BRO
Area Sales Manager - Oppo
Permanent · Pudukkottai
MTC BUSINESS
Production Manager | Khopoli
Permanent · Khopoli
UGRAYA FOODS
Production Manager || Agartala (Tripura)
Permanent · Agartala
RELIANCE RETAIL
Area Sales Manager - Reliance Digital (Multiple Locations)
Permanent · Thiruvananthapuram
By
Reuters API
Published
Sep 10, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba's Ma to step down in Sept 2019, Zhang to become chairman

By
Reuters API
Published
Sep 10, 2018

Jack Ma, the charismatic co-founder of China’s largest e-commerce firm Alibaba Group Holding Ltd, will step down as chairman in exactly one year on Sept. 10, 2019, the company said.


Jack Mat


Current Alibaba Chief Executive Daniel Zhang will replace him as chairman, while Ma will complete his current term on Alibaba’s board of directors following the company’s annual general meeting in 2020.

Ma, who turned 54 on Monday, relinquished the role of chief executive in 2013. Zhang, 46, has been in the job since 2015 after serving as chief operating officer and is known as a key architect of Alibaba’s “Singles Day”, the Nov. 11 event that has become the world’s largest online shopping event.

“Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters... Starting the process of passing the Alibaba torch to Daniel and his team is the right decision at the right time,” Ma said in a letter released by the company.

Zhang will also retain the CEO title, the company said.

Ma, who co-founded Alibaba in 1999, is one of China’s richest people with a net worth of $36.6 billion (28.3 billion pounds), according to Forbes. The company has grown to have more than 66,000 full-time employees and a market value of some $420 billion.

Ma said that after he steps down from his current roles he will continue to mentor management as part of the “Alibaba Partnership”, a 36-member group of core company managers.

The group has the ability to nominate the majority of directors on the company’s board.

A former English teacher with no technical background, Ma has a large popular following in China and is seen as an icon of self-made wealth.

He is also known for his eccentric personality and has donned wigs and costumes to perform highly choreographed pop routines at company events. Last year he starred alongside Chinese action star Jet Li in a short kung fu film.

Since handing over the CEO role, Ma has concentrated on philanthropy and promoting Alibaba internationally at business and political events.

Last year Ma invested 300 million yuan ($45 million) in a rural education project in China. He has also established a scholarship programme in Newcastle, Australia.

Ma, who also controls Alibaba payment affiliate Ant Financial, is stepping back amid more challenging times for Chinese tech companies as sales growth in China’s eastern mega-cities shows signs of slowing.

Alibaba maintained robust revenue growth in the first half of 2018, but its profit margins have been squeezed by big-ticket investments as it battles to maintain pole position in payments and e-commerce.

© Thomson Reuters 2022 All rights reserved.