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Alibaba co-founder and chairman Jack Ma on Monday announced in an open letter that he would step dow...
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Alibaba co-founder and chairman Jack Ma on Monday announced in an open letter that he would step down, with the company CEO Daniel Zhang taking over as the chairman of the board. Zhang, is known as a key architect of Alibaba’s “Singles Day”, the Nov. 11 event that has become the world’s largest online shopping event. In the letter entitled “Happy Teachers’ Day,” Ma said he would retire as the chairman of the board on Sept. 10, 2019. Ma said he would work closely with Zhang to ensure a smooth transition and stay on the Alibaba board of directors until the annual shareholders meeting in two years. After he steps down, he will continue to be part of the “Alibaba Partnership”, which has the ability to nominate the majority of directors on the company’s board. He also wants to return to education and charity, which gives him excitement and blessings.
“There’s only Bill Gates who has done the same. No other tech founder in the world has just resigned like that at the top,” said Rupert Hoogewerf, which publishes an annual influential list of China’s richest people. Hoogewerf added that in China, Ma was a figure like no other, with friends ranging from movie stars to billionaires, though he often outshone them all. “He’s the big one, he’s the one that brings them together.”
The company was founded at a time when the industry was still dominated by state-owned firms and entrepreneurship was seen as a risky career path. Alibaba, previously recognized as an on-line shopping company, also has investments in sports content, microchips and facial recognition technology and has been positioning itself as a serious player in cloud computing. Mr. Ma said in the letter, “The one thing I can promise everyone is this: Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba.”
1.What do we learn about Abibaba from this passage?
A.It was founded by Jack Ma alone.
B.It is nothing more than an on-line shopping company.
C.It was founded at the time when private-owned firms was in a minority.
D.Its shareholders meeting holds twice a year.
2.What can we infer from paragraph 2?
A.Hoogewerf speaks highly of Jack Ma’s firm.
B.Bill Gates and Jack Ma have a lot in common.
C.Other than stars and billionaires, Jack Ma makes few friends.
D.Jack Ma is an influential person to unite his friends.
3.Jack Ma will do the following things after stepping down except________.
A.Helping people in need.
B.Ensuring the company’s transition.
C.Education career.
D.Suggesting candidates for the board.
4.What’s the best title for this passage?
A.The Brief Introduction of Jack Ma
B.Daniel Zhang to Take Over Alibaba
C.Alibaba’s Development
D.Jack Ma to Step Down as Alibaba’s Head
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