The multibillion-dollar chinese Jack Ma will be in a year his reverence to the head of Alibaba, the group that he founded in 1999. After 48 hours of floating, Alibaba has finally announced on Monday morning that mr Ma, who celebrates on Monday its 54 years, will be leaving in exactly a year, on September 10, 2019, the presidency of the board of directors of the retail giant online.
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This date will also coincide with the 20th anniversary of the foundation of the group. “No company can depend solely on its founders. I am well placed to know (…) no one can forever exercise the responsibilities of president and chief executive officer,” says Jack Ma in a letter to its customers, its employees and its shareholders.
“Self-made-man” loved by his employees
In an interview with the New York Times, the charismatic chinese boss had announced his intention to devote himself henceforth to the education and works philantropiques.
The businessman, who has claimed himself a resemblance with E. T., is known for his eccentricities: in 2017, he was in blackface Michael Jackson to sketch a choreography mimicking the singer at a gala event.
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Ex-professor of English, “self made man” loved by his employees, Jack Ma is, according to the agency Bloomberg, the 19th fortune world, with a fortune estimated at $ 40 billion. On Friday, Alibaba weighed about 420 billion dollars of market capitalization on Wall Street.
Jack Ma will hand over the presidency to general manager Daniel Zhang said the group in a press release. He, himself, had left the branch in 2013.
disadvantaged Children and humble beginnings
“Jack Ma will continue his duties as executive chairman of the group for the next 12 months to ensure a smooth transition of the presidency to Daniel Zhang”, according to the release. Jack Ma will remain a member of the Board of directors until 2020.
Alibaba account for some 85 000 employees for an annual turnover of $ 40 billion. Its e-commerce platforms Taobao and Tmall control 60% of the chinese market. This juggernaut of technology is also present in the cloud (“cloud”), the film and finance.
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Also behind the e-payment service mobile Alipay, now ubiquitous in China, Jack Ma has largely contributed to transform the way his compatriots do their shopping and pay for it.
The chinese media remind us of happy childhood poor and the humble beginnings of Jack Ma, who had left teaching to create in 1999, Alibaba from his apartment in Hangzhou (east), borrowing $ 60,000 to friends.
The biggest ipo in history
Rejected at the time by investors in the us, Jack Ma had taken a revenge resounding in realizing in 2014 Wall Street with the largest ipo in history, raising 25 billion dollars.
Alibaba is leveraging its technological advance in artificial intelligence to better target advertisements and to resist to the intensified competition from rivals in china in full swing.
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But his departure is not really a surprise: the contractor had distilled these last days of clues hinting at an upcoming departure. In an interview with Bloomberg TV aired on Thursday, he indicated a desire to follow in the footsteps of the founder of Microsoft, Bill Gates, removed the business to become one of the most generous philanthropists in the world.