Alibaba chairman Jack Ma to retire in 2019

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HANGZHOU, Sept. 10 (Xinhua) -- Alibaba co-founder and chairman Jack Ma on Monday announced in an open letter that he would step down a year later, when the company CEO Daniel Zhang will take over as the chairman of the board.

In the letter with a title of "Happy Teachers' Day", Ma said he would retire on Sept. 10, 2019, upon Alibaba's 20th founding anniversary.