SHANGHAI: Jack Ma steps aside on Tuesday as chairman of Alibaba, ending a spectacularly successful 20-year run during which the charismatic former English teacher's e-commerce company left a profound impact on China's economy.
"His background as an English teacher, allied to his raw charisma including a keen sense of humour have cemented his place ... as the face of Chinese entrepreneurs overseas," said Duncan Clark, author of"Alibaba: The House That Jack Ma Built."AdvertisementMa's departure comes not only on his birthday but, fittingly, on Teacher's Day in China. Alibaba also stages its 20th-anniversary bash Tuesday evening.
US-listed Alibaba is now among the world's most valuable companies, worth US$462 billion, according to Bloomberg data. "The one thing I can promise everyone is this: Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba," he said.The 47-year-old Zhang, by contrast, is a mild-mannered finance expert. But Chinese media routinely refer to him as the man who transformed Ma's sturdy little"tractor" into a"Boeing 747".
Alibaba and its imitators, however, have been accused of fostering rampant consumerism, traffic in counterfeit goods, and producing mountains of packaging-material refuse.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jack Ma to exit as Alibaba chairman, ushering in uneasy new era for China techHONG KONG (REUTERS) - Jack Ma's exit ushers in a nervous new era for Chinese tech. The charismatic co-founder of the US$460 billion-plus Alibaba will step down from his chairman role when he turns 55 on Tuesday (Sept 10). His exit comes as Beijing tightens its grip on fellow bosses like Tencent's Pony Ma, who must also grapple with a slowing economy.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Smooth succession: Jack Ma eases out of a thriving AlibabaJack Ma steps down next week as chairman of Alibaba, but the start-up he built into an online retail behemoth is expected to keep thriving into a new era thanks to a culture of innovation he helped nurture. A former English teacher whose often playful image shattered the stereotype of the drab Chinese
Source: YahooSG - 🏆 3. / 71 Read more »
Smooth succession: Jack Ma eases out of thriving AlibabaSHANGHAI Jack Ma will step down as chairman of Alibaba, but the start-up he built into an online retail behemoth is expected to keep thriving as it enters a new era thanks to a culture of innovation he helped nurture. A former English teacher whose playful image shattered...
Source: thenewpaper - 🏆 7. / 63 Read more »
Smooth succession: Jack Ma eases out of a thriving AlibabaJack Ma steps down next week as chairman of Alibaba, but the start-up he built into an online retail behemoth is expected to keep thriving into a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Jack Ma exits as China tech 2.0 unease sets in[HONG KONG] Jack Ma's exit ushers in a nervous new era for Chinese tech. The charismatic co-founder of the US$460 billion-plus Alibaba will step down from his chairman role when he turns 55 on Tuesday. His exit comes as Beijing tightens its grip on fellow bosses like Tencent's Pony Ma, who must also grapple with a slowing economy. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Jack Ma to exit as Alibaba chairman, ushering in uneasy new era for China techHONG KONG (REUTERS) - Jack Ma's exit ushers in a nervous new era for Chinese tech. The charismatic co-founder of the US$460 billion-plus Alibaba will step down from his chairman role when he turns 55 on Tuesday (Sept 10). His exit comes as Beijing tightens its grip on fellow bosses like Tencent's Pony Ma, who must also grapple with a slowing economy.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »