Friday, May 14

Jack Ma to remain Alibaba executive chairman, reveal succession plan next week: SCMP citing spokesman

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

Our Standards:The Thomson Reuters Trust Principles.

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