Abrar Hussain: After a New York Times report on Friday claimed that Alibaba co-founder and Chairman Jack Ma will retire today, the South China Morning Post published a report yesterday denying that claim, and argued that he will unveil a succession plan instead.
The SCMP, which is owned by Alibaba, said China’s most famous tech billionaire will “unveil a succession strategy” today – his 54th birthday – but remain the company’s executive chairman for the foreseeable future.
The decision comes after The New York Times ran an article 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”.
“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 succession strategy was part of a plan “for grooming a generation of younger executives to take over the reins” of the company.
Eileen Murphy, a spokesperson for the New York Times, said the newspaper stood by its story.
-Source: AFP