Washington Post

Chinese billionaire Jack Ma confirms exit at Alibaba, announces successor

Foto: Imaginechina AP

BEIJING - Chinese e-commerce giant Alibaba announced Monday that chief executive Daniel Zhang will succeed Jack Ma as chairman of the board next September, confirming the celebrity billionaire's plans to gradually depart the business he founded in 1999.

Ma, who is worth an estimated $36 billion, will stay at the helm of one of Asia's biggest online retailers over the next year to ensure a smooth transition for Zhang, who joined Alibaba 11 years ago, the firm said...

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