CEO of Alibaba Relinquishing CEO Role, To Remain As Chairman

Jack Ma, Chief Executive Officer of the Alibaba Group, has notified his employees that he will step down from his role as CEO while remaining as Chairman. He will name a new CEO on May 10, 2013. Until such time Mr. Ma will remain as CEO.

Ma’s has decided to relinquish the CEO role in order to give younger employees with new skills and ideas their chance to build the company. Nothing else has been said about the new CEO hiring process.

Mr. Ma has served as the company’s CEO and Chairman since starting it as lead founder in 1999. A former English teacher from Hangzhou China, he also currently serves on the board of Softbank Corp. and is a director of Huayi Brothers Media Corporation, a company listed on The Shenzhen Stock Exchange. In 2009, Jack became a trustee of The Nature Conservancy’s China program and joined the global board of directors of the organization in 2010.

As reported by Reuters, Mr. Ma said, “As a founder CEO, stepping down …. is a difficult decision. It’s not because I wanted to take things easy (though the job of Alibaba CEO is no easy task), it’s because I see that Alibaba’s young people have better, more brilliant, dreams than mine, and they are more capable of building a future that belongs to them.”

About Alibaba (Source: The Company)
Alibaba Group is a family of Internet-based businesses which makes it easy for anyone to buy or sell online anywhere in the world. Since its inception, it has developed leading businesses in consumer e-commerce, online payment, business-to-business marketplaces and cloud computing, reaching Internet users in more than 240 countries and regions.

The privately held Alibaba Group, including its affiliated entities, employs more than 24,000 people in some 70 cities in Greater China, India, Japan, Korea, the United Kingdom and the United States.

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