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Posted at: Sep 11, 2019, 8:14 AM; last updated: Sep 11, 2019, 8:14 AM (IST)

Alibaba’s founder Jack Ma steps down as chairman

Beijing: Alibaba Group founder Jack Ma, who helped launch China’s online retailing boom, stepped down as chairman of the world’s biggest e-commerce company on Tuesday at a time when its fast-changing industry faces uncertainty amid a US-Chinese tariff war. Ma, one of China’s wealthiest and best-known entrepreneurs, gave up his post on his 55th birthday as part of a succession plan announced a year ago. He will stay on as a member of the Alibaba Partnership, a 36-member group with the right to nominate a majority of the company’s Board of Directors. AP

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