Putting all the speculation to an end, Founder of Chinese e-commerce giant Alibaba has decided to hang his boots. The news was doing rounds about his retirement during last week, and some media houses reported that Jack Ma would no longer be associated with the company post his 54th birthday. 

In a recent development, Jack Ma has announced Daniel Zhang as his successor for the company.  The Chinese entrepreneur will retire from his position of Executive Chairman next year and hand over the reins to current CEO Daniel Zhang. 

Addressing the customers and employees of the company, Jack Ma mentioned that he would be associated with the company’s board until the 2020 annual shareholders meeting. 

In his letter, he wrote, “The world is big, and I am still young, so I want to try new things—because what if new dreams can be realized?” he added, “The one thing I can promise everyone is this: Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba.”

Daniel Zhang joined the company in 2007 and looked after all the leading businesses of the company.

Pic Source- WSJ