Mr. Ma will complete his current term as a member of Alibaba Group’s board of directors until its annual general meeting of shareholders in 2020.
Mr. Ma is a lifetime partner in the Alibaba Partnership and is a member of its partnership committee. The Alibaba Partnership is currently comprised of 36 partners who are also members of senior management of Alibaba Group or its affiliates. Pursuant to the articles of association of Alibaba Group, the Alibaba Partnership has the right to nominate a majority of the directors to the board of the company.
Mr. Ma in a letter to Alibaba’s customers, employees and shareholders said, “Today, as we mark the 19th anniversary of Alibaba, I am excited to share some news with you: with the approval of our board of directors, one year from today on September 10, 2019 which also falls on Alibaba’s 20th anniversary, Group CEO Daniel Zhang will succeed me as chairman of the board of Alibaba Group. While remaining as executive chairman in the next 12 months, I will work closely with Daniel to ensure a smooth and successful transition. Thereafter, I will stay on the Alibaba board of directors until our annual shareholders meeting in 2020.”
Founded in 1999, Alibaba aims to last more than 102 years and for sustainability its build on sound governance, culture-centric philosophy, and consistency in developing talent.
“No company can rely solely on its founders. Of all people, I should know that. Because of physical limits on one’s ability and energy, no one can shoulder the responsibilities of chairman and CEO forever,” Mr. Ma added.
Daniel Zhang has been with Alibaba Group for 11 years. Since he took over as CEO, he has demonstrated his superb talent, business acumen and determined leadership. Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters. His analytical mind is unparalleled, he holds dear our mission and vision, he embraces responsibility with passion, and he has the guts to innovate and test creative business models.
Mr. Ma says he’ll plan on continuing his role as the founding partner in the Alibaba Partnership and contribute to the work of the partnership.