It's also Ma's 55th birthday. The transition was announced a year ago. So you have to still be ambitious. Plans included a parade of staff members in costumes, music and skits onstage, according to an Alibaba spokesman.Mr. He is a lifetime member of the Alibaba Partnership, a group of a few dozen employees with tremendous power over the company’s board and leadership, as well as its bonus pool.The partnership also holds sway over key licenses that Alibaba requires in order to do business on the mainland. Here's why it's worth billionsSee NASA's big plans for its new Mars rover, PerseveranceCovid-19 is driving millennials out of cities and into first homesWhy I'm living on Harvard's campus even though all my classes are onlineDisney heiress: People's lives should come before businessBill Ackman: Wall Street and Main Street are 'different universes' That business fiercely competes with WeChat, owned by Tencent Holdings, which has become a power in online payments in China, giving Mr. Ma a continuing challenge on the business front.“As long as Jack Ma has the lifetime partnership, he will be in charge of the Alibaba empire,” Fang Xingdong, a Chinese internet veteran and sometime Alibaba critic, wrote on his social media WeChat account. Mr. Ma has said he will devote his time to philanthropy, especially rural education.Sculptures on the campus of the Alibaba Group in Hangzhou. As Jack Ma prepares to leave Alibaba, his career provides several key takeaways for fellow leaders and aspiring entrepreneurs. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC.
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Mr. Ma is also leaving the executive chairman’s job just as the world has woken up to the huge power that technology giants wage over societies.“We strove for bigger and stronger companies in the last century,” Mr. Ma said Jack Ma, the founder of Alibaba Group, at an award ceremony for rural teachers in Sanya, in China’s Hainan Province. Should you refinance? Jack Ma’s decision to retire as chairman of Alibaba on his 55th birthday brings down the curtain on one of the world’s most extraordinary entrepreneurial careers. The date that Ma chose to formally step down, September 10, is Teachers' Day in China, "so there's some messaging in that," Clark said. Ma referenced his previous career to explain why he was stepping down from his company. Jack Ma stepped down as Alibaba’s chairman today, handing the role over to the company’s current CEO, Daniel Zhang. Disclaimer. Nobody can [push you out], if you don't want to leave, right? Social media just made it easier to spreadFiery exchange erupts at congressional antitrust hearingMortgage rates are at historic lows. Jack Ma, the billionaire who ushered e-commerce into China, is officially stepping down as Alibaba's executive chairman on Tuesday. ... and that may have played a role in Ma’s decision to retire. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates.See the Nike ad that took 4,000 hours of sports footage to makeThis small business stood for a century, but Covid-19 closed it in monthsRussian misinformation isn't new.