This year marks the 21st anniversary of Alibaba's founding. After retiring as chairman of the board of directors, Alibaba announced at today's shareholders' meeting that Ma Yun would no longer be a director of Alibaba, with immediate effect.
Ali said that this was a series of inheritance arrangements two years ago.In September 2018, Ma Yun issued a full letter announcing that he would no longer serve as chairman of the board of directors of Alibaba Group on the 20th anniversary of Alibaba in 2019,Zhang Yong took over.
At the same time, for the smooth transition of the organization, he will continue to serve as a member of the board of directors until the annual general meeting of Alibaba in 2020.
What Alibaba announced today is Ma Yun's resignation from the board of directors. So far, in addition to holding shareholders in Alibaba, Ma Yun has no official position.
A year ago, Zhang Yong took over the post of chairman and CEO of Alibaba's board of directors. This time, Ma Yun withdrew from the board of directors of Alibaba as agreed, which means that Alibaba has completed the handover smoothly.
In 2009, Alibaba created a partnership mechanism to lay the institutional foundation for the company's inheritance. Over the past year, under the leadership of Zhang Yong, the new chairman of the board, Alibaba's market value has risen from $450 billion to $750 billion. The high-quality growth of core business, technology driven continuous innovation and future oriented strategic investment achievements all prove Alibaba's vitality and strategic foresight.
And Ma Yun, as he promised,
Since the beginning of this year, Alibaba has made great efforts to fight the epidemic worldwide and support small and micro businesses to return to work and production. Ma Yun public welfare foundation is one of the most important forces.
Ma Yun also devoted more energy to public welfare and education, including promoting rural education, environmental protection, development of African youth and entrepreneurs, empowerment of women, and so on.
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