21 August 2019

Ma officially steps down as Alibaba Group CEO, paper says

Alibaba Group Holding Ltd. founder Ma Yun on Friday officially stepped down as the firm’s chief executive, National Business Daily reported. The e-commerce entrepreneur, whose English name is Jack Ma, will now be involved in public welfare and environmental protection as he is set to serve as chairman of The Nature Conservatory’s (TNC) China board, taking over from economist Hu Zuliu, the report said. Ma has donated US$5 million to the China Global Conservation Fund (CGCF), which has been established by TNC’s board members, it noted.

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