World

Jack Ma to step down as Alibaba executive chairman

Jack ma, China’s richest man and founder of Alibaba corporation has retired from his post to concentrate more on education.

In an interview, Ma said his retirement is not the end of an era but “the beginning of an era.” I would be spending more time and fortune focused on education. “I love education,” he said.

He will continue to remain on Alibaba’s board of directors and continue to mentor for Alibaba’s leadership.

Ma turns 54 on Monday, which is also a holiday in China for Teachers Day.

Ma stepped down as Alibaba’s chief executive in 2013; the company’s current chief executive is Daniel Zhang, who is a candidate to succeed Ma.

Ma founded Alibaba in 1999 and started up in his apartment in Hangzhou. Since then it has grown and become one of the largest companies in the world.

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