Jack Ma, the executive chairman of Chinese e-commerce giant Alibaba, has said he plans to step down in a year.

The news, in a letter sent by Mr Ma to Alibaba customers and shareholders, follows conflicting reports over the weekend on the timing of his exit.

Mr Ma, one of China's richest men, will hand over the reins to Daniel Zhang, currently chief executive.

Alibaba is one of the world's most valuable companies - its shares nearly doubled in value last year.

Mr Zhang, who is 46, developed the company's Singles' Day promotion, which is the world's biggest one-day online retail event.

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Good!

The man with the funny head. He is such an inspiration, no matter how much he has achieved, he still makes effort to inspire young people.

Very true! He is a great inspiration to the world.

Darkseid:
The man with the funny head. He is such an inspiration, no matter how much he has achieved, he still makes effort to inspire young people.