Daniel Zhang to replace Jack Ma as Alibaba chairman in 2019

Jack Ma is going to step down as Alibaba chairman one year from today, going to be replaced by Daniel Zhang. Ma told Bloomberg last week he was looking at a change of life. Ma will officially pass the baton on his 55th birthday next year but remain on the board until 2020. The former English schoolteacher now intends to focus on philanthropy and education but also pursue new dreams. he said in a statement Monday. Bloomberg's Lulu Chen reports on Bloomberg Markets: China Open.