The Legend of Alibaba retires
Jack Ma had a special gift for himself on his 55th birthday (yesterday) – He retired. Just as he had promised last year. 🎊
Ma’s momentous departure comes almost 20 years after he founded Alibaba with a $60,000 investment (that he borrowed from his friends). Today, Alibaba is a whopping $460 billion enterprise and Ma is the richest man in all of China.
He is a tech mogul, a global icon, an inspiration and most of all, he’s a great leader.
Greats are hard to replace but Ma isn’t worried 😇
Alibaba’s current CEO Daniel Zhang has been selected to take over as the group’s chairman. He joined Alibaba in 2007 and led in senior managerial roles for multiple ventures over the years (Taobao, T-mall).
What he’s known for: Zhang’s most notable contribution (till now) has been the Singles day event, which has overtaken ‘Black Friday’ to become the world’s grandest shopping holiday in terms of total sales made. Last year, Alibaba earned 2 lakh crores on that fateful ‘singles day’.
Not that famous tho: Zhang’s not the fiery & charismatic personality like Ma. He stays away from the limelight so much that an employee’s parent in the company HQ once mistook him for the janitor.
What Ma is counting on: His ability to think radically. Zhang is the perfect example of a ‘silent executionist’ whose actions speak louder than words. He has the guts to take risks.
PS – the first thing he wants to do is kill Alibaba’s existing business models and he has a master-plan.🙌