Hangzhou, 10th September: Alibaba Group, the leading e-commerce company in China, announced its Chairman, Jack Ma, will step down next year on 10th September 2019.

Chief Executive Officer, Daniel Zhang will succeed Ma. Over the next 12 months, Ma will continue as Executive Chairman to ensure a smooth transition of the chairmanship to Zhang. Ma will complete his current term as a member of Alibaba’s board of directors until the annual general meeting of shareholders in 2020.