January 15, 2013 / 9:30 AM / 5 years ago

Alibaba Group's Ma to step down as CEO on May 10

HONG KONG, Jan 15 (Reuters) - Jack Ma, founder of Alibaba Group and one of China’s most well-known Internet entrepreneurs, said he will step down as chief executive officer on May 10, although he will remain as chairman, according to a letter sent to employees.

“On May 10, 2013, I will no longer assume the role of Alibaba Group CEO. I will fully dedicate myself to the role of executive chairman of Alibaba Group,” Ma said in the letter seen by Reuters.

“Don’t worry, we are confident that we will be able to announce a new CEO on May 10,” he said.

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