Post Jack Maa's exit, Daniel Zhang to assume chairmanship of Alibaba

Jack Ma, co-founder and executive chairman of Alibaba, who announced his retirement on 8th September will be succeeded by Alibaba's chief executive officer Daniel Zhang as chairman of the board of Alibaba Group in September next year, according to reports. Ma will continue as executive chairman of the company over the next 12 months to ensure a smooth transition of the chairmanship and will continue as a member of Alibaba Group’s board of directors until the annual general meeting in 2020.

Zhang, a former accountant, has worked at Alibaba Group for 11 years and is credited with establishing the e-commerce giant's Singles' Day event and for being one of the key driver's behind Alibaba's new retail strategy.