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Saturday, Oct 16, 2021

Jack Ma steps down as Alibaba chairman

Jack Ma, co-founder of Alibaba, stepped down from his role as company executive chairman on September 10, 2019, the day he turned 55. Ma had already announced in September 2018 that in one year Daniel Zhang Yong would take over control of the US$460 billion company – which also owns the South China Morning Post. The billionaire will retain a seat on the board of directors of the Chinese e-commerce giant until its annual shareholders meeting in 2020.

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