China's Alibaba Appoints 18 New Managing Partners

According to reports in local media, 18 co-founders of Chinese B2B e-commerce company Alibaba Group will resign their respective positions to become managing partners of this company.

Jack Ma, chairman of Alibaba, announced this symbolic move during the tenth anniversary of Alibaba and said this move aims to create a relaxed state of mind for these co-founders, so that they can make better contributions to the development of the company.

The 18 co-founders of the group will undergo a "group resignation" and then be "re-employed" by the group. Ma said starting from September 11, 2009, they resigned their positions as co-founders and Alibaba will enter a new era of being named managing partners.

Meanwhile, Ma announced Alibaba's new goals and said in the next ten years, Alibaba will still focus on e-commerce and small and medium-sized enterprises. He said Alibaba will offer a fair platform for enterprises and create millions of jobs.

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