Jack Ma, founder and executive chairman of Chinese e-commerce giant Alibaba Group Holding Inc., formally retired, with chief executive Daniel Zhang succeeding him as chairman, local media said Tuesday.Ma stepped down as chairman on Sept. 10, the 20th anniversary of the founding of Alibaba, which was founded in 1999 in Hangzhou in the eastern coastal province of Zhejiang and has grown into one of the world's largest e-commerce businesses.Sept. 10 is also the 55th birthday of Ma, a member of China's Communist Party, who created a business environment conducive to Alibaba's success by communic…READ FULL ARTICLE
