Alibaba bids adieu to Jack Ma; Daniel Zhang to replace him as Executive Chairman

In an announcement made this morning it was known that Alibaba Group's Chairman Jack Ma, popularly known as the Steve Jobs of China, is due to step down from the Chinese e-commerce giant today, i.e. September 10th, marking the end of an era for the firm. Ma co-founded Alibaba in 1999 and today it is recognized as one of the world's biggest internet firms.

Daniel Zhang, currently Alibaba's Chief Executive Officer, will replace him as Executive Chairman.

Incidentally, Jack Ma has stepped down as Chairman of Alibaba Group on his birthday, which is September 10th, 1964. Ma will continue serving on Alibaba’s board until its annual general shareholders’ meeting next year.