ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

Jack Ma resigns as Executive Chairman of Alibaba Group, Daniel Zhang occupies top slot

Hangzhou [China] Sept 10 (ANI): The e-commerce giant and one of Asia's richest man Jack Ma on Tuesday stepped down as the executive chairman of China's largest company -- Alibaba Group Holding Ltd, a decision which also coincided with his 55th birthday.

ANI Sep 10, 2019 15:42 IST googleads

Jack Ma

Hangzhou [China] Sept 10 (ANI): The e-commerce giant and one of Asia's richest man Jack Ma on Tuesday stepped down as the executive chairman of China's largest company -- Alibaba Group Holding Ltd, a decision which also coincided with his 55th birthday.
Ma will be replaced by CEO Daniel Zhang, who will also take on the role of chairman. With 6.44 per cent of shares in his bracket, Jack will continue to exert his influence on China's biggest e-commerce company through his lifetime membership with the Alibaba Partnership, reported CNN.
In 2018, Ma had announced his retirement plans from the senior management position after two decades of building Alibaba into an e-commerce powerhouse worth $460 billion.
Last year, Ma spoke about the challenges for the future of education at the World Economic Forum, warning that "if we do not change the way we teach, 30 years later we will be in trouble."
Jack Ma Foundation was established in 2014 and has been cited by the Bill and Melinda Gates Foundation as an inspiration for his charitable endeavours.
"Jack has been signaling for some time his interests in philanthropy, environment, women's empowerment, education, and development," said Duncan Clark, the author of 'Alibaba: The House That Jack Ma Built.' (ANI)

Get the App

What to Read Next

Business

Wizz Financial Completes First Stablecoin-Powered Cross-Border

Wizz Financial Completes First Stablecoin-Powered Cross-Border

Dubai [UAE], March 12: Wizz Financial, the global fintech company specializing in cross-border payments and digital wallets, today announced the completion of its first stablecoin-powered cross-border remittance and treasury transaction originating from the United States, with capabilities into 80 countries, in partnership with BitGo Bank & Trust, N.A. ("BitGo"), an OCC-regulated digital asset trust bank and subsidiary of BitGo Holdings, Inc. (NYSE: BTGO). Through the partnership, Wizz Financial is utilizing BitGo's institutional-grade wallet infrastructure and e-trade services to facilitate the conversion of fiat currency into stablecoins, enabling near-real-time settlement, enhanced liquidity management, and compliant, scalable cross-border remittance flows across its global network as new corridors are progressively launched.

Read More
Business

Swiggy and HDFC Bank Elevate Everyday and Travel Rewards

Swiggy and HDFC Bank Elevate Everyday and Travel Rewards

Bengaluru (Karnataka) [India], March 12: Swiggy, India's pioneering on-demand convenience platform, and HDFC Bank, India's largest private sector bank, today announced the expansion of their co-branded credit card portfolio with the launch of two new variants: the Swiggy BLCK HDFC Bank Credit Card and the Swiggy Ornge HDFC Bank Credit Card. The Swiggy BLCK and Ornge HDFC Bank Credit Cards are designed to maximize value across food, quick commerce, lifestyle, and travel. Card members will enjoy enhanced, category-leading cashback on Swiggy and premium partner platforms, alongside exclusive instant discounts on Cleartrip and Nykaa. The expanded portfolio offers up to ₹48,000 in annual savings, bringing elevated, everyday benefits to a wider segment of consumers.

Read More
Business

'India exploring alternate destinations for fertilisers'

'India exploring alternate destinations for fertilisers'

"The country is making arrangements and efforts to explore more alternative destinations to import LNG. It's a kind of pre-emptive measure in case the war goes on for a longer period. Advisories are also being issued to farmers for the wise use of fertilisers," Singh said on the sidelines of a soil health event organised by the PHD Chamber of Commerce and Industry (PHDCCI) in New Delhi.

Read More
Business

Middle East war disrupting energy supplies, affecting multiple se

Middle East war disrupting energy supplies, affecting multiple se

The ongoing war in West Asia is disrupting global energy supply chains and creating challenges for several sectors in India, including industries dependent on gas and port-based trade, Ranjeet Mehta, CEO and Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI), told ANI today.

Read More
Business

India’s rise, global outlook set it apart from China: USIBC

India’s rise, global outlook set it apart from China: USIBC

India is not China as the two countries differ significantly in their global outlook, development model and approach to international partnerships, Amb (ret) Atul Keshap, President of the US-India Business Council (USIBC), told ANI today. Keshap, who is also Senior Vice President for South Asia at the US Chamber of Commerce, said India's rise in global affairs would benefit both the United States and the broader international community.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.