According to Reuters, a “tearful Jack Ma formally left Alibaba on Tuesday (Sep 10)” with a rock show for thousands of its employees.
During the celebration, Alibaba’s billionaire executive chairman Jack Ma delivered his promise to hand over to CEO Daniel Zhang.
Ma told guests and employees: “After tonight I will start a new life. I do believe the world is good, there are so many opportunities, and I love excitement so much, which is why I will retire early.”
Ma’s exit comes as Alibaba has grown to become Asia’s most valuable listed company, with a market capitalisation of US$460 billion. It employs more than 100,000 people, and has expanded into financial services, cloud computing and artificial intelligence.
A strong company is determined by its commercial ability, while a good company is responsible and kind.
– Jack Ma, Executive Chairman, Alibaba
In the report, the company also said that it had adopted six new core values, among which one was a pledge to “respect the work-life balance decisions of every individual”, marking a step away from Ma’s recent comments urging tech company employees to work nights and weekends, which sparked a nationwide debate.
Ma also told guests that he hoped to see Alibaba shoulder more responsibility to improve society amid the sweeping changes brought about by technologies like big data and 5G. He said: “It is not easy to be a strong company, but it is more difficult to be a good company.”
“A strong company is determined by its commercial ability, while a good company is responsible and kind,” he closed.
Photo source: www.alibabagroup.com