Alibaba's Ma to step down in Sept 2019, Zhang to become chairman

Jack Ma, the charismatic co-founder and chairman of China's largest e-commerce firm Alibaba Group Holding Ltd, has begun making arrangements to step down as part of a long-term transition plan, the company said on Monday.

Ma will step down in exactly one year on Sept. 10, 2019, and current Alibaba Chief Executive Daniel Zhang will replace him as chairman.

Ma will complete his current term on Alibaba's board of directors following the company's annual general meeting in 2020.

He relinquished the role of chief executive in 2013. Zhang, 46, has been in the job since 2015 after serving as the company's chief operating officer.