Alibaba founder Jack Ma to step down in 2019

Agencies
September 10, 2018

Beijing, Sept 10: Alibaba founder and billionaire Jack Ma announced on Monday he would step down as the Chinese e-commerce giant's executive chairman next year and named the company CEO as his successor.

Ma, 54, will hand over the keys of his company to 46-year-old Daniel Zhang in an unprecedented succession plan that will slowly take the focus off one of China's most recognisable corporate names over the next 12 months, Hong Kong-based South China Morning Post, which is owned by Alibaba, reported.

Zhang will be promoted to the executive chairman on September 10, 2019, while Ma remains a director on Alibaba's board and a permanent member of the Alibaba Partnership, according to a letter written by Ma to all staff including to the Post.

Ma said he will remain Alibaba's executive chairman during the year-long period to ensure a "smooth and successful" transition, and stay on as an Alibaba director until a shareholder' meeting in 2020.

"This transition demonstrates that Alibaba has stepped into the next level of corporate governance from a company that relies on individuals, to one built on systems of organisational excellence and a culture of consistent talent development," Ma said in his letter.

The succession plan being announced on his birthday on Monday came after confusing reports about Ma's retirement.

The New York Times, which interviewed him, reported on Saturday that Ma planned to use his 54h birthday to announce his retirement to devote his time to philanthropy focused on education.

The report of his retirement came as a surprise, especially in the Chinese government circles as the Post report said Ma was relinquishing as China's business environment had soured, with the government and state-owned enterprises increasingly playing more interventionist roles with companies.

The Post report was quickly denied by Alibaba whose spokesman told the Post on Saturday that Ma remains the company's executive chairman and will provide transition plans over a significant period of time.

"The Times story was taken out of context and factually wrong," the daily quoted the spokesman as saying.

Ma, who grew from an English teacher to China's top billionaires making Alibaba into USD 420 billion company, always took care to not ruffle feathers of the ruling Communist Party of China (CPC).

He took care not to project himself bigger than the CPC leadership though he has emerged as modern China's most revered corporate icon.

"Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba," Ma said in the letter.

The plan, announced on Ma's 54th birthday, took 10 years to put together. It owed its inception to Alibaba's formative years, long before the online marketplace forayed into cloud computing, cashless payments, artificial intelligence and Hollywood movies, the Post report said.

"This is merely the beginning of a succession strategy of creating a step ladder to groom the next generation of managers," Joseph P H Fan, co-director of the Institute of Economics and Finance at the Chinese University of Hong Kong said.

"Jack Ma's halo is too bright, and outshines whoever's under him, so he needs to fade out. But for a company of Alibaba's size, it's a process that will take 10 years to complete," he said.

Zhang was known to Alibaba employees as "Xiaoyaozi" (free and unfettered one), the name of a character from a Louis Cha wuxia novel, the Post report said.

Since Zhang, known as Zhang Yong in mainland China, was named chief executive in May 2015, "Alibaba has seen consistent and sustainable growth for 13 consecutive quarters.

"His analytical mind is unparalleled, he holds dear "our mission and vision, he embraces responsibility with passion, and he has the guts to innovate and test creative business models," Ma said.

"I've worked closely with Daniel since 2007 when he first joined us as chief financial officer of Taobao," said Joseph Tsai, Alibaba's executive vice-chairman who was the company's finance chief until 2013.

"On intellect and energy, I can barely keep up with him. But it's his thoughtfulness and humility that is most impressive as a leader," he said.

Zhang had previously served as Taobao's chief financial officer, president of Tmall.com and as Alibaba's chief operating officer before succeeding Jonathan Lu as chief executive.

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News Network
November 24,2025

israelsyra.jpg

Israeli forces have pushed over the Syrian frontier, erecting a checkpoint and stopping vehicles in the southwestern city of Quneitra, in yet another breach of the Arab country’s sovereignty.

The violation took place on Sunday, when the troops made their way across the border, setting up the outpost near the Ain al-Bayda junction in northern Quneitra, Syrian outlets reported.

According to the al-Ikhbariya paper, an Israeli detachment positioned itself at the junction, halting cars and conducting searches.

The Syrian Arab News Agency (SANA) reported that three Israeli military vehicles then moved further into the northern countryside, deploying between the town of Jubata al-Khashab and the villages of Ofaniya and Ain al-Bayda. The agency added that a separate Israeli unit mounted a new incursion in the central region, approaching the villages of Umm Batina and al-Ajraf.

Residents said such activities have surged in recent months, pointing to Israeli advances onto farmland, leveling of extensive forested areas, arrests, and spread of mobile checkpoints.

The Israeli regime began markedly increasing its military aggression against Syria last year.

The escalation coincided with increasingly ferocious onslaughts throughout the country by the so-called Hay'at Tahrir al-Sham (HTS) Takfiri terrorist group, which the government of President Bashar al-Assad had confined to northwestern Syria. The HTS, however, managed to overthrow the government as the Israeli attacks would pummel the country’s civilian and defensive infrastructure.

Various reports have shown that, during the escalation, the regime conducted more than 1,000 airstrikes on the Syrian territory and over 400 ground raids into the south.

Following the collapse of the Assad government, Tel Aviv also widened its grip over the occupied Golan Heights by taking control of a demilitarized buffer zone, in defiance of a 1974 Disengagement Agreement. Earlier this month, senior Israeli officials, including Prime Minister Benjamin Netanyahu, visited the buffer zone, prompting expressions of alarm on the part of the United Nations.

The United States, the regime’s biggest ally, has, meanwhile, been fraternizing the HTS head Abu Mohammed al-Jolani amid the widely reported prospect of rapprochement with Tel Aviv.

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News Network
November 26,2025

Mangaluru, Nov 26: Mangaluru East police have registered a case following a sophisticated online fraud where a 57-year-old local resident was allegedly cheated out of ₹13.4 lakh after being targeted on Facebook.

The scam began in February when the complainant, while browsing Facebook reels, was contacted by a woman identifying herself as "Lillian Mary George" from London. After establishing a chat relationship, the woman claimed she would visit India in November and bring a significant sum of money.

The trap was sprung on November 15, when the victim received a call from a woman named "Sonali Gupta," who claimed Lillian had arrived at Mumbai International Airport but was detained by customs. The fraudsters convinced the man that Lillian was carrying £25,000 (about ₹26 lakh) in traveller’s cheques and 1 kg of gold (valued at around ₹30 lakh).

Under the pretense of clearing these items, the victim was asked to make numerous online transfers between November 15 and 18 for various bogus charges, including:

•    "Pounds exchange registration"
•    "Customs declaration issues"
•    "Discount charges"
•    "Money-laundering charges"

Believing the fictitious story, the complainant transferred the cumulative sum of ₹13.4 lakh to various bank accounts provided by the fraudsters. He realised he was cheated when the culprits later promised a refund within two days but stopped answering his calls. The Mangaluru East police are now investigating the case, which highlights the continuing threat of transnational cyber fraud using social engineering and promises of fictitious wealth.

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News Network
December 2,2025

Mangaluru, Dec 2: Mangaluru International Airport responded to a medical emergency late on Monday night. Air India Express flight IX 522, travelling from Riyadh to Thiruvananthapuram, was diverted to Mangaluru Airport after a passenger in his late 30s experienced a medical emergency on board.

The Airport’s Operations Control Centre received an alert regarding the passenger’s health condition. The airport activated its emergency response protocol, mobilising the airport medical team and coordinating with stakeholders including CISF, immigration, and customs. 

Upon landing, airport medical personnel attended to the passenger, assessed his condition, and arranged to shift him to a local tertiary-care hospital for further treatment. The passenger’s relatives accompanied the passenger, who incidentally received necessary medical care on board, which helped stabilise the situation.

Following the handling of the emergency, the flight departed for Thiruvananthapuram at 2:05 am on Tuesday.

"We appreciate the cooperation of all parties involved, and this incident reaffirms our ongoing commitment to prioritising passenger safety and readiness to respond to unforeseen emergencies with professionalism and care," the Airport spokesperson said. 

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