Jack Ma, China’s richest man, steps down as chairman of Alibaba
Charismatic 55-year-old entrepreneur to be replaced by Daniel Zhang at e-commerce firm
The Alibaba founder, Jack Ma, is stepping down as head of one of the world’s largest e-commerce companies, handing over the reins to his handpicked successor.
Ma, who announced his retirement as chairman of the company last year, will celebrate his final day at a celebration marking his 55th birthday at an Olympic-sized sports stadium in Hangzhou, where he founded the company 20 years ago.