Jack Ma speaks at a global e-commerce conference in Hangzhou, Zhejiang province. Ma, chairman and CEO of Alibaba Group Holding Ltd, China's biggest e-commerce company, said he will leave the CEO post in May. [Photo/Xinhua]

Jack Ma, founder of the Chinese e-commerce giant Alibaba Group, said Tuesday that he will step down from this CEO post on May 10 but will continue to serve as chairman.

In a letter e-mailed to company employees, Ma said that in the next few years, he will mainly be responsible for making strategic decisions for the board of directors.

Ma said he will assist the new CEO in nurturing organizational culture, cultivating talent and working with staff to improve the company's public welfare.

The retirement came a week after Alibaba announced that it would be divided into 25 separate business units, the largest restructuring since its establishment in 1999. After the re-organization, the board will be in charge of strategizing, while the CEO will be responsible for carrying out their strategies.

The new CEO will be named on May 10. The day marks the 10th anniversary of the establishment of Taobao.com, the country's largest online shopping site.

The Internet belongs to the young, he said in the letter.

"For the founder, it is not an easy decision to step down as CEO, as this can easily cause misunderstandings," he said.

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