UPDATED 7:51 AM EST, January 15, 2013
BEIJING (AP) — One of China's most successful Internet entrepreneurs, Jack Ma, founder of e-commerce giant Alibaba Group, says he is stepping down as chief executive but will remain chairman.
Ma said in a letter to employees on Tuesday that he would no longer be CEO after May 10 but would remain active as executive chairman of Alibaba Group. The company's business-to-business Alibaba and consumer-oriented Taobao and Tmall platforms are among the world's busiest e-commerce outlets.
