Chinese e-commerce tycoon Jack Ma said he would step down as executive chairman of Alibaba Group Holding Ltd. in a year, handing over the reins to CEO Daniel Zhang.
Mr. Ma made the announcement on his 54th birthday, saying he has “lots of dreams to pursue” including working in education again. Before founding Alibaba in 1999, Mr. Ma was a teacher—he is known at the company as “Teacher Ma.”
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