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X47 > Economic Challange

Jack Ma Formally Announces Resignation Plans of Alibaba Group For the customers of Alibaba, Aliren (designation for the employees of Alibaba), and shareholders, Today, when we commemorate the 19th anniversary of Alibaba, I happily share this news to you. With the approval of the Board of Directors, a year from now (10 September 2019) which also falls on the anniversary of the Alibaba, Alibaba Group CEO Daniel Zhang will replace me as Chairman of Alibaba Group. During the executive chairman within the next twelve months, I will be working with Daniel to ensure the transition process is well underway and successful. After that, I will still be on the Board of Directors of Alibaba's annual shareholders meeting until the year 2020. I have thought about this succession plan since ten years ago. I am pleased to be announcing this today, thanks to the support of Alibaba Partnership and our Board of Directors. I would also like to thank the employees of Alibaba and family you guys, because thanks to the confidence, support, and participation of all of you in the company for 19 years back, we can get on this day with strength and confidence themselves. This transition shows that Alibaba has increased the level of the companies that depend on the individual, being a company that built upon the perfection of the system of organization and development of talents. When Alibaba was founded in 1999, our goal to build this company is to be the pride of China and the world. As well as being the company that get past the age of thirty years, and goes up to 102 years old. However we know that no employee can survive at a company for 102 years. Alibaba will survive with the management as well as a good culture, philosophy and consistency in developing talent. There are no companies that depend on its founder. I also know it. Due to the limited physical abilities and energy, no one can assume responsibilities as Chairman and CEO for good. We ask these things ten years ago, how Alibaba can keep growing after Jack Ma leave this company? We believe that the only way to resolve the issue is to develop culture-based management systems and mechanisms, in order to develop the unique talents and the successor leadership consistently. During the last ten years, we continue to prepare for it. Armed with experience as a teacher, I feel proud to reach this stage. A teacher is definitely always wanted his students to become smarter than himself. So it's my responsibility and the company is letting people who are younger and talented to fill leadership positions. So they could continue the Mission of Alibaba, "makes it easy for people to build a business on the go." So through these missions, they can help small businesses, young children, and the women all over the world, that's the purpose of my life. Not only become our goal since day one, but I feel blessed can have the opportunity to do it directly. To realize the dream behind the mission, it is necessary the participation of more people besides Jack Ma, and the strong efforts of several generations of Aliren. Alibaba become great not because of business, growth, or our achievements. The best thing in Alibaba is we work together under a same mission and vision. Alibaba Partnership system, unique culture, as well as a team with great talent, have made strong foundations for this company. In fact, since I let go of responsibility as CEO in 2013, the company

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X47 > Economic Challange

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