Jack Ma to step down as Alibaba head

Alibaba Group Executive Chairman Jack Ma announced he will be stepping down as chairman of Alibaba on Monday.[IC]

Jack Ma, founder and chairman of Chinese e-commerce tycoon Alibaba has announced that that he will be stepping down as chairman at one of the largest e-commerce companies in the world to focus on teaching. CEO Daniel Zhang Yong will take over as chairman.

Ma will stay as board member of Alibaba after Sept 10, until the company's annual general meeting of stockholders in 2020.

Besides acting as partner of Alibaba, Ma will focus on public welfare and educational business.

He said this in an open letter to the public on Sept 10, a meaningful day — Ma's birthday, the founding day of Alibaba and also China's Teacher's Day.

For more on this story, please click on the audio bar to listen to the full discussion between Li Ningjing and Ryan Price.