In the latest announcement made by Alibaba founder, Jack Ma, he will hand over the key for Alibaba to Daniel Zhang.
Daniel, who is 46-year-old will take the charge from September 10, 2019. Jack Ma will remain in the position for next one year to allow smooth transition of duties during the time period.
Billionaire Alibaba will remain as Director until shareholder meeting in 2020. Jack Ma said in a letter, “This transition demonstrates that Alibaba has stepped into the next level of corporate governance from a company that relies on individuals, to one built on systems of organisational excellence and a culture of consistent talent development.”