Alibaba’s Jack Ma to Step Down as Executive Chairman
08 September, 2018, 19:14 | Author: Lawrence Cooper
Nearly 20 years after he founded Alibaba, the Amazon of China, Executive Chairman Jack Ma plans to retire to focus on philanthropy, according to a report.
The company went public on the New York Stock Exchange in 2014 and has a market value of about $421 billion. The Chinese e-commerce giant, since then is being managed by its current CEO Daniel Zhang, who is likely to succeed Ma after his retirement.
The day Jack Ma will be stepping down, September 10, is also celebrated as Teacher's Day in China.
As he prepares to leave the company, Ma is among China's richest men with a net worth estimated by Forbes at $38.6 billion.
Beijing has announced plans to regulate the country's highly popular video game industry, including restrictions on the number of new releases to address concerns over children's eyesight and gaming addiction. Alibaba, while hugely successful in China, it's not known as well overseas and the company has been looking for ways to raise its global profile. The company has increased its presence outside China by investing in e-commerce and online finance companies in India and Southeast Asia. On one hand, Chinese tech companies are facing increased scrutiny by the Chinese government led by President Xi Jinping, on the other hand, the tech firms are caught in an escalating trade war between the United States and China.
Succession planning for a company barely out of its teens underscores its founders' commitment of handing down a corporate structure that can outlast them.
Turkey calls for ceasefire in Syria's Idlib, Russia opposes
It has also created zones of control in northern Syria and has several hundred troops deployed at 12 observation posts in Idlib. They destroyed one Ahrar al-Sham post , killing one of its fighters and wounding 14 others in the area of Hobait, it said.
Alibaba reported roughly $40 billion (NZ$61.1 billion) in revenue previous year. It reported a total revenue of 158 billion ($23 billion) last fiscal year.
More travelling is scheduled for the businessman, including a trip to Cape Town, where Ma has promised to fulfil his pledge to help South African President Cyril Ramaphosa set up a digital training centre to nurture entrepreneurship among the youth.
"This is something I think I can do much better than being CEO of Alibaba", he told Bloomberg TV recently.
The move mirrors that of Bill Gates before he left Microsoft.
Like Gates, he has created his own eponymous foundation - the Jack Ma Foundation - which he says will push his original calling: education.
Speaking at an event in Australia in 2017, Ma explained his view on philanthropy. I can never be as rich, but one thing I can do better is to retire earlier.
Thomas' contract is up at the end of the 2018-19 season, and Dallas would be a front-runner to gain his services in free agency. Thomas' reaction to the lack of a resolution was clear in his post: "The disrespect has been noted and will not be forgotten".
He said Twitter has so far suspended 3,843 accounts the company believes are linked to the agency, and has seen recent activity. At the time, several senators expressed dismay that the companies had dispatched legal counsels rather than chief executives.
To play the game, either turn off your WiFi and open a new tab, or enter chrome ://dino/ In your search bar. The Omnibar, Google's term for the address bar turned search bar, is learning some new tricks too.
He said in a tweet issued on Saturday that it would be left of the new NAFTA if "fair deals for the US" isn't reached. The U.S. -Mexico deal sought to end the mass exodus of manufacturing from the U.S., especially with automakers.
Wilson, her entertainment attorney, says she would not have wanted to see her finances publicly aired: "She was a private person". I could not sing that well neither could my mum, but it was hard to find her not singing in the kitchen or in the bathroom.
Raja Mohan downplayed reports in the US and Indian media that Trump has mimicked Modi's accent in meetings with his top officials. Pompeo also said India had committed to purchasing more energy products and aircraft from the U.S.to reduce the trade deficit.
Marijuana consumption is legal in the state of California, where the podcast was hosted. "Weed is not helpful for productivity". In July he shocked investors by announcing on Twitter that he had funding secured to take his auto firm Tesla private.
Idlib is held by a complex array of rebels and jihadists, many of whom have been blacklisted as "terrorists" by world powers. The prospect of an offensive in Idlib has alarmed humanitarian agencies. "Hundreds of thousands of people could be killed".
A man watches as flames engulf the 200-year-old National Museum of Brazil , in Rio de Janeiro , Sunday, Sept. 2, 2018. The jewel in the crown for many visitors was " Luzia " - the oldest human remains ever discovered in Latin America.
People who've purchased clothing or shoes from Nike in the past three months, however, feel different. Nike shares are up 28 percent so far this year, outpacing the S&P 500 consumer discretionary sector.
For the continent to wrestle back the trophy these wildcards will be under pressure to repay the faith shown by their captain. Furyk, who was allotted four discretionary wild card picks to complete the team, will make his final selection on Monday.
North Korean charged in crippling Sony hack, WannaCry virus
The WannaCry ransomware virus infected computers in 150 countries and crippled parts of the British health care system. Park and Chosun Expo, also known as Korean Expo Joint Venture, were also targeted with financial sanctions by the U.S.
Oil price rises as Anadarko evacuates Gulf of Mexico rigs
Global oil markets have tightened over the past month, pushing Brent prices up by more than 10% since the middle of August. Given the current upside momentum, this price level could easily be achieved later today especially if additional U.S.
Check out these 2018 iPad Pro 12.9 renders
Also, the smart connector is located above the Lightning port, instead of on the side of the device as it is on current iPad Pros. The renders also show several (unconfirmed) interesting ways in which the new iPad differs from the old models.
Foles will start over Wentz for Eagles in season opener
The news of Foles starting comes a day after John Clark of NBC 10 cornered the surgeon who repaired Wentz's knee, Dr. The Eagles have used Foles as their starter throughout the preseason while Wentz continues to recover.