Chinese technology giant Alibaba founder resigns

The chairman of the Alibaba e-commerce group, Jack Ma, is due to step down Tuesday from the giant, ushering in a new era for the Chinese tech giant.

Jack founded Alibaba in 1999 to become one of the largest Internet companies in the world.

His success and style have helped him become one of China's brightest businessmen.

Jack will succeed Daniel Zhang, the current general manager of the company.

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The market value of Alibaba is now estimated at 480 billion dollars. Jack is the richest man in China, with a net worth of $ 38.6 billion, according to Forbes' annual list of the richest in the world.

He is also the first of his generation of eminent Internet company founders to withdraw.

"I think it will not be possible to find anyone like Jack," said Rebecca Fanin, author of a book on the tech giants in China, "It's unique in its field." It is Steve Jobs China. "

So what?

Aged 55, he should be more interested in philanthropy and education after leaving his position as president of Alibaba.

Duncan Clark, who wrote a book about Jack and is also chairman of the China PDA investment consulting firm, said Jack was consciously withdrawing from Alibaba, which has gradually brought him to call on experts in the field. technology and finance.

These measures will ensure a smooth transition to Alibaba's future in the absence of one of its founders.

Zhang is different from his predecessor, Jack: he is calm, humble and does not like lights.

Inside the company, Zhang calls Xiaoyaozi, the hero of one of the Chinese martial arts novels, which means "free heat" – a person who avoids himself beat but innovate to train others.

This reputation will be at stake. Zhang leads Alibaba in a difficult period when the Chinese market slows down.

At the same time, the company faces difficulties to develop internationally under the strict American control of Chinese companies located in the West.

In some parts of Southeast Asia and India, analysts believe that the ability to deal with markets and local populations is a challenge for Chinese society.

A multi-billion dollar IPO in Hong Kong has been delayed by pro-democracy protests.

But Zhang's biggest challenge may be to reach the level of Jack, a respected and beloved man of his colleagues and the international community.