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Tuesday September 25th, 2018 3:58AM

Alibaba: Jack Ma to step down as chairman in September 2019

By The Associated Press

BEIJING (AP) — E-commerce giant Alibaba Group says founder Jack Ma will step down as chairman in September 2019.

The company announced Monday that Ma will be succeeded by Daniel Zhang, the company's CEO.

Alibaba said Ma will remain a member of the group that has a right to nominate a majority of the company's board of directors.

Ma is a former English teacher who founded the company in 1999. Ma is one of the world's richest entrepreneurs.

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