Beijing, Sep 10 (TIWN) Alibaba co-founder Jack Ma is stepping down as Chairman of the multi-billion dollar e-commerce behemoth on Tuesday as the company celebrates its 20th anniversary.

Ma, the former English teacher, has interestingly chosen Chinese Teacher's Day as the time for his resignation. He will continue to serve on Alibaba's board until the annual general shareholders' meeting in 2020. Ma will also continue to remain a lifetime partner of Alibaba Partnership, a group comprising of 36 members who have the right to nominate a majority of the company's board of directors.  In a video posted on Monday, Ma said: "I'm the person always looking forward. I don't want to look at the things back."