(XINHUA)

Ma Yun, also known as Jack Ma, officially stepped down as CEO of e-commerce giant Alibaba Group Holding Ltd., on May 10. He will stay on as the company's chairman.

May 10 is the 10th birthday of Alibaba's consumer-to-consumer business website Taobao. The company also operates two additional e-commerce sites—Alibaba.com and the business-to-consumer platform Tmall.

Before Ma's departure, Alibaba delivered a rosy financial report, overtaking Tencent Holdings Ltd. to become the most profitable Internet company in China during the fourth quarter of last year.