In brief: Jack Ma not stepping down yet, says Alibaba spokesman

An Alibaba spokesman said Jack Ma remains the company’s executive chairman and will provide transition plans over a significant period of time, contrary to a New York Times article that said he was “stepping down” to “retire.” The Times story was taken out of context, and factually wrong, the spokesman said.

Source: South China Morning Post (SCMP)

Ma will unveil the succession strategy this week, though it seems that Alibaba has already put in place a transition plan years ago. Daniel Zhang was appointed CEO of Alibaba in 2015, and Ma has been hands-off from the day-to-day affairs of the group.

“I’m very proud that Alibaba now has the structure, corporate culture, governance, and system for grooming talent that allows me to step away without causing disruption,” Ma told SCMP.