Chinese billionaire Jack Ma now has a person in mind to whom he will be handing over the keys to Alibaba as the company's co-founder revealed on Friday his plans to end his stint on the e-commerce website come 2019.
According to CNBC, currently, chief executive officer Daniel Zhang will be taking over Ma's chairmanship position on the company's board beginning September 10 of next year.
For the meantime, the entrepreneur-turned-motivational speaker will continue his run in Alibaba as its executive chairman over the next 12 months, offering a smooth transitional period for the upcoming succession of Zhang, a statement by the Chinese company indicated and was cited over by the news outlet.
With Zhang already in the reins, the would-be ex-chairman will stay as a member of the Alibaba board of directors for another year until the 2020 annual shareholders call.
In a separate report by CNBC, it was found out that the passing of the torch to Zhang will coincide with Alibaba's upcoming 20th founding anniversary.
Furthermore, the successful strategy that the company is currently putting into full gear had undergone a decade in planning. According to Joseph Fan, co-director of the Institute of Economics and Finance at the Chinese University of Hong Kong, in a statement cited by South China Morning Post, the process will serve as a guide for Alibaba in choosing its next managers in the near future.
During Ma's 54th birthday celebration, which coincided with the Chinese Teachers Day, the former English teacher revealed in a letter he addressed to his staff that it is the job of the teachers to groom their students to exceed them. Translating it into the corporate world, Ma reiterated that it is the right thing to do to let younger and more talented people assume leadership roles for the company to further realize its greater mission.
The Next Alibaba Boss
A separate report from the Morning Post revealed some of the information about the next Alibaba big boss. According to the site, since Zhang became chief executive in 2015, the company has seen a consistent and sustainable growth.
In another letter by Ma, the Harvard University reject praised the younger Zhang for his cleverness and in his commitment to uphold Alibaba's mission and vision. More than ever, the appointee is passionate in carrying over his response to the company.
Zhang, as Ma added, also showed courage in proposing to the table new business models in his attempt to push development and innovation for the company.
