BEIJING (Reuters) – Alibaba Group Holding Ltd’s (BABA.N) co-founder Jack Ma will remain as executive chairman, and will unveil a succession strategy on Monday on his 54th birthday, South China Morning Post reported on Saturday, citing a company spokesman.
FILE PHOTO: Alibaba Group co-founder and executive chairman Jack Ma speaks during a news conference in Hong Kong, China, June 25, 2018. REUTERS/Bobby Yip/File Photo
Ma will provide transition plans over a significant period of time, the spokesman was quoted as saying, adding that the succession strategy is part of a management plan 10 years in the making.
The New York Times reported on Friday that Ma will retire from the e-commerce company on Monday.
Reporting by Ryan Woo; Editing by Alexander Smith