China’s biggest Online Marketplace co-founder is stepping down. On Sunday 9th Sept, Alibaba confirmed that the Co-founder Jack Ma would retire from Alibaba after 12 months. Jack Ma would hand over the chairmanship to the current CEO Daniel Zhang on 10th Sept 2019. It is also mentioned that Ma would continue as the Alibaba’s Board of director until 2020. Jack Ma says that about his retirement that he wants to pursue his education.
The reason why Jack Ma decided to continue to the chairmanship of Alibaba for the next 12 months because he wants to ensure the smooth transaction between the two Chairmen. Since the time he started Alibaba, Jack Ma have never compromised with the quality of services Alibaba is providing. So before retiring from the chairmanship, Jack Ma wants to make sure that everything is working according to the standards he has maintained.
Jack Ma started the journey of Alibaba with only 17 people in 1999. He knew the potential of the market and had the determination to achieve something in the online marketplace. Jack Ma always had the faith in his decision. He always said that he never rethink once he had made a decision, but before making any decision he made sure that he is going in the right direction.
“You have to pick up the things that you are really [passionate] about. When you do business, you have to do things you believe in. If you don’t like it, you can never sustain [it].” – JACK MA
Jack Ma grew the company from 17 people to 66,421 full-time employees with more than 500 Million Chinese customers who use to purchase almost everything from the website. The company currently worth more than $420 Billion. Jack Ma is the richest person in China with the total worth of more than $40 Billion.
He says that he had lots of dreams to pursue. He never liked to sit idle so he would continue with his education. Though he was a very average student yet he loved learning new things. At the age of 53, he believes that he is still young and the world is big. And it need to be explored.