Even without Ma as chairman, Alibaba will thrive

ON MONDAY, or Teachers' Day in China, e-commerce giant Alibaba released a letter saying its co-founder and chairman Jack Ma will quit as chairman on Teachers' Day next year. China Youth Daily comments:

Jack Ma confirmed the news by reposting the open letter on his micro blog account. According to Alibaba, Zhang Yong, the chief executive officer of Alibaba, will succeed Ma as chairman.

Ma announced the decision on Teachers' Day because teaching is his favorite profession, as he has said on earlier occasions. He had been a teacher for six years before co-founding Alibaba in 1999. Even after having accumulated enormous wealth, he highly values the teaching profession. In fact, his verified identity on micro blog is that of a "speaker for rural teachers".