The tears of Ma bids, Alibaba said goodbye to the rock star show

HANGZHOU, China (Reuters) – A tearful Jack Ma, the formal left-Alibaba (BABA).(N), on Tuesday, picked up a guitar and be a rock-star wig for a special event for the thousands of workers in the e-commerce giant he started 20 years ago in a small apartment in the city of Hangzhou, in eastern China.

During a four-hour celebration will be in an 80,000-capacity stadium, Alibaba’s billionaire executive chairman, delivered on his promise of a year ago, is to be handed over to the chief executive officer, Daniel Zhang.

Costumed performers, some of the dances to dubstep music and is dressed in a traditional Chinese dress, and the singer also paid tribute to Ma’s reputation for dress-up and execution of major events, the introduction of a parade of floats representing Alibaba departments, such as the shopping site and Tmall and payment service that the Ant Financial.

“After tonight, I will start a new life. I believe that the world is good, and there are a lot of options, and I like the excitement so much, and that’s the reason why I have to retire early, ‘ Mother told the guests and co-workers.

Ma was spotted at one point welling up with tears, as the staff at the sketches and songs, in which the subject is “Jack Ma has called:” the trend in the Chinese social media platform Weibo.

At the end of the ceremony, Ma, is a co-founder Lucy Peng and chief executive officer of Alibaba s technology committee, Wang Juan, drew a rock star-style leather jackets, and wigs to perform a Chinese song. They were joined by co-founder Joe Tsai, dressed in a Marilyn Monroe-style white dress and a blonde wig.

Zhang, well dressed in rock star attire, then you will be provided with one on your own, have said that Alibaba could continue to invest in areas such as cloud computing.

Ma’s exit comes as Alibaba has grown to become Asia’s most valuable listed company with a market capitalization of $460 billion. There are more than 100,000 people, and has expanded into financial services, cloud computing, and artificial intelligence.

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The company also said on Tuesday that it had adopted the six core values, which include a pledge to “respect the work-life balance and the decision of each individual,” marks a step away from Ma’s recent comments urging of the tech employees to work nights and weekends, which has led to a national debate.

Ma told the congregation he was hoping to see Alibaba’s shoulder more and more responsibility to the society, to improve, to be in the middle of the far-reaching changes brought by technologies such as big data and 5G.

“It’s not easy to make a strong company, but it’s much more difficult to be a good company,” he said. “A strong company is to be determined by the commercial power, as a group, it is responsible, and kind.”

Reporting by Josh Horwitz, in Beijing, Additional Reporting by Brenda Goh in Shanghai, Editing by Alexander Smith

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