Jack Ma to unveil succession plans, ‘not imminent retirement’
Alibaba denies that its billionaire co-founder and chairman plans to retire on Monday
Beijing — Alibaba co-founder and chairman Jack Ma will unveil a succession plan on Monday, the South China Morning Post reported Sunday, with a company spokesman denying a New York Times report that he would retire that day. The SCMP, which is owned by Alibaba, said China’s most famous tech billionaire will "unveil a succession strategy" on Monday — his 54th birthday — but remain the company’s executive chairman for the foreseeable future. The New York Times ran an article on Friday, based on an interview with Ma, saying the former teacher turned billionaire planned to use his birthday to announce his retirement as chairman of Alibaba to focus on philanthropy. The paper quoted Ma as saying the decision was "the beginning of an era". But an Alibaba spokesman told the SCMP that the New York Times’ story "was taken out of context, and factually wrong". 'Grooming a generation' "An Alibaba spokesman said Ma remains the company’s executive chairman and will provide transition plans over a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.