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Alibaba's Jack Ma reveals succession plan in letter -- full text

Group CEO Daniel Zhang to become chairman in a year

Alibaba co-founder and Executive Chairman Jack Ma, pictured speaking in Bangkok in April, says he still has "lots of dreams to pursue." (Photo by Takaki Kashiwabara)

Jack Ma Yun, founder and chairman of Chinese e-commerce empire Alibaba Group Holding, on Monday announced plans to step aside a year from now. 

In a letter, Ma said he would make way for CEO Daniel Zhang, and would work with him over the coming 12 months to ensure a smooth transition.

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