Alibaba’s Set For New Leadership Away From Jack Ma’s Shadow, As Jack Ma Retires From Alibaba At 54 6x4s1

Founder of Alibaba Jack Ma

Former English teacher, founder & CEO of Chinese biggest technology company Alibaba Group, Jack Ma has announced a “succession plan” to kick off his gradual retirement. Jack Ma, set to return to his lifelong ion for education as he’s stepping away from ’Baba in a time of turmoil for China’s private sector.

In 1995, Jack Ma alongside with his 17 Chinese tech visionary started an e-commerce company called Alibaba.COM, which later has a baby sister companies such as Tencent, Baidu, Ant, and JD.com. But as the situation stands now, the Alibaba Group has about $420B market valuation, making it among one of the world’s leading technology company.

From humble teacher to China’s baddest businessman 3o378

Ma began his career as an English teacher. But, when his online search for “beer” and “China” in 1995 yielded no results, he put his textbooks on the shelf to pursue a higher calling: Fixing the internet.

By expanding Alibaba from e-commerce to banking, cloud computing, digital media, and software, Ma built one of the 5 largest internet companies in the world. And to make it happen, he had to convince the Chinese government of the internet’s value.

Jack Ma
Alibaba’s Set For New Leadership Away From Jack Ma’s Shadow, As Jack Ma Retires From Alibaba At 54

A tech empire built on politics, not programming 4e2e6z

Unlike other tech companies, Alibaba’s early obstacles were political, not technical. So Ma — who says he doesn’t really understand technology — led Alibaba as a charismatic politician, not a technical businessman.

Ma adopted a philosophy of “loving the government, but not marrying them” to grow Alibaba under the good graces of the government. With the government’s blessing, Alibaba now pulls in $40B in annual revenue.

But as Alibaba has grown, the government has fought to stay involved — and thanks to the US-China trade war, Alibaba now feels more regulatory heat than ever.

Can Alibaba survive without Ma’s magic? 2r2i1t

Ma has planned his departure for more than 10 years, but despite scaling back responsibility in 2013 by transitioning from CEO to executive chairman, Ma still manages many of Alibaba’s government relationships — making his exit challenging.

In spite of the New York Times report that Ma will retire immediately, Alibaba reps insist that Ma will off the reins slowly and remain chairman in transition — calling the NYT report “factually wrong.”

Ma is expected to outline his “succession plan” in greater detail today.

By gistyinka 6r212z

About GYONLINENG. COM To Entertain and Celebrate African Dreams Both Home and Diaspora. Catch all the Latest trending News, Entertainment News, Celebrity Lifestyle and Society News on gyonlineng.isosite.org. Get All the Important and Interesting Gist & News in the Entertainment & Music Industry Daily into Your Mailbox Everyday at 10am (GMT + 1). You can subscribe to our list through the subscription box on the top bar of the site.. Follow Me Here Follow @gyonlineng</a

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