WSJ
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WSJ5.docRunning head: WALL STREET JOURNAL 1
WALL STREET JOURNAL 2
Wall Street Journal
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Alibaba’s Jack Ma relieves himself of Important China business licenses
The Wall Street Journal reports that businessman Jack Ma has relieved himself of important business licenses that prevent Alibaba Group Holding limited to expand further. According to the Wall Street Journal, the decision by Alibaba to relieve himself of the burden of management was in line with his intention of stepping down as the chairman of Alibaba. The report further says that the relinquishing of the licenses by Alibaba will enable Chinese technology companies to get control of investments in overseas nations (Li, 2018). Alibaba is meant to relinquish his chairmanship post to Daniel Zhang. According to the Wall Street Journal, Alibaba will continue being a founding partner in the Alibaba business, and he will keep on as one of the senior executives of the group who have a right to nominate a majority of board members.
The Wall Street Journal reports that the news by Alibaba to relinquish most of the management responsibility had come early than expected. The online paper, however, notes that it is in the right direction within the company and with no doubt, Alibaba as a big organization will be able to grow. By Alibaba stepping out of his position, it means that it will be easy for the organization to inject new blood into the running of the business (Li, 2018). The Wall Street Journal continues to note that Alibaba will remain as an important pillar in the organization as he will be able to advice most of the senior executives that will stay within the organization. Regulatory filings indicate that Alibaba’s decision has come too early, but above all, his retirement was still in the cards within the tech company.
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