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 reports that Ma plans to unveil his succession strategy on Monday, not his imminent retirement. But an Alibaba spokesman told the SCMP that the New York Times' story "was taken out of context, and factually wrong". "An Alibaba spokesman said Ma remains the company's executive chairman and will provide transition plans over a significant period of time," the SCMP wrote. The paper added that the Monday succession strategy was part of a plan "for grooming a generation of younger executives to take over the reins" of the company.

Source: Bangkok Post September 09, 2018 00:45 UTC