The China-based holding conglomerate, Alibaba Group, has announced that in a year’s time, on 10 September 2019, the company’s CEO Daniel Zhang will succeed Jack Ma as Chairman of the Board.
Ma will continue with his role as the Executive Chairman of Alibaba Group for the coming 12 months in order to ensure a smooth transition of roles.
“Mr. Ma is a lifetime partner in the Alibaba Partnership and is a member of its partnership committee,” the Alibaba Group wrote in a press release.
“The Alibaba Partnership is currently comprised of 36 partners who are also members of senior management of Alibaba Group or its affiliates.”
The current Chair will also complete his term as a member of the Board of Directors at the company – the term will last until the annual general meeting of shareholders in 2020.
“Today, as we mark the 19th anniversary of Alibaba, I am excited to share some news with you: with the approval of our board of directors, one year from today on September 10, 2019 which also falls on Alibaba’s 20th anniversary, Group CEO Daniel Zhang will succeed me as chairman of the board of Alibaba Group,” wrote Jack Ma in a letter to Alibaba customers, Aliren, and shareholders.