Daniel Zhang to be Alibaba boss when Jack Ma hangs up his boots next year

Jack Ma has remained the public face of Alibaba and is a charismatic advocate for China's technology industry

Jack Ma will step down as executive chairman of Alibaba Group Holding Ltd. in exactly 12 months’ time with Chief Executive Officer Daniel Zhang to succeed him at Asia’s most valuable company.

Ma will remain on the board until Alibaba’s annual meeting of shareholders in 2020, the Hangzhou-based company said in a statement Monday. His retirement as executive chairman will coincide with his 55th birthday.

Ma has become synonymous with the company he helped found in his apartment nearly 20 years ago and has used the chairman’s post to develop managerial talent since ceding the CEO’s role in 2013. He