One of China's best known corporate leaders, billionaire Jack Ma, will step down as CEO of Alibaba Group, the e-commerce empire he founded to tap the nation's enormous online shopping potential, passing the reins to "a younger, better equipped" generation.
Ma, a former tour guide and English teacher and self-styled "China's Forrest Gump," said he would name a successor by May 10, when he switches to the role of executive chairman. He said most of Alibaba's leaders "born in the 1960s" would also pass their leadership responsibilities to younger colleagues.
