Alibaba‘s co-founder Jack Ma to retire from company: NYT

Alibaba Group Holding Ltd. co-founder Jack Ma will step down from his role as executive chairman on Monday, according to a Friday afternoon report. Ma will leave the company to focus on philanthropic approaches to education, he . Alibaba shares traded down more than 1% in after-hours trading Friday following the news. Ma was the chief executive of Alibaba until he moved to the chairman role in 2013. He plans to remain on the board of the Chinese internet giant and called his retirement "the beginning of an era" for Alibaba in the interview.

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