The chairman of the world’s biggest e-commerce business Alibaba, Jack Ma has resigned on Tuesday.
Ma is one of China’s wealthiest and best-known business leaders. He stepped down as Alibaba’s chief on his 55th birthday.
Ma, a former English teacher, founded Alibaba in 1999 to connect Chinese exporters to retail businesses in North America.
“After today, I will start a new chapter of my life. As a person that loves liveliness as much as me, I would not want to retire and leave the playground at such a young age. I just want to switch to another universe to have fun,” Ma said.
He will stay on as a member of the Alibaba Partnership, a 36-member group.
Jack Ma hands the reins to Daniel Zhang.