Alibaba's Jack Ma to step down as boss

  • Jack Ma is to step down as chief executive of Alibaba, the e-commerce website he set up.

    In a letter to employees, Ma said he would appoint a successor and serve only as an executive chairman from May 10.

    Wednesday’s announcement came just days after Alibaba said it was splitting up its business into 25 different units that would be led by different executives.

    Chinese firm Alibaba was founded in 1999 and is now one of the world's biggest online companies.

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