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Alibaba Chairman Jack Ma is stepping down on his 55th birthday on Tuesday, and his hand-picked successor could face a daunting challenge (BABA)

jack ma alibaba

  • Alibaba Group chairman Jack Ma will step down from the $460 billion Chinese firm on Tuesday.
  • Ma, a former English teacher, founded the company 20 years ago in a small shared apartment in Hangzhou city in eastern China.
  • Under Ma's leadership, Alibaba has grown to become Asia's most valuable listed company. It employs over 100,000 people, and has expanded into financial services, cloud computing, and artificial intelligence.
  • Ma hand-picked his successor as Alibaba CEO: Daniel Zhang, an accountant by trade.
  • One of Zhang's major challenges will be finding new areas of growth as China's e-commerce sector matures, analysts said.
  • Visit Business Insider's homepage for more stories.

SHANGHAI (Reuters) — Alibaba Group Chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the $460 billion juggernaut at a time when the market for its core ecommerce business has slowed sharply.

As Ma, who turns 55 on Tuesday, holds center stage at his farewell party in the 80,000-capacity Hangzhou Olympic Sports Center stadium to the accompaniment of music and celebrity performances, attendees will be hoping to get clues on how Alibaba will be run under his heir, Daniel Zhang.See the rest of the story at Business Insider

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