(Hong Kong/New York Composite News) After the news came out the day before yesterday that Jack Ma, the founder of Chinese Internet giant and the world's largest e-commerce platform Alibaba, plans to retire on his 54th birthday, Alibaba's share price fell by nearly 3% after hours., But the company yesterday (September 8) denied the retirement statement, saying that what Jack Ma will announce tomorrow is the succession strategy.
According to Alibaba's South China Morning Post, the succession strategy will be part of a 10-year management plan aimed at developing a younger generation of executives to take over Asia's most valuable company.
A spokesman for Alibaba emphasized that Jack Ma will remain the executive chairman of the company and will provide a transition plan for a considerable period of time, which is completely different from what the New York Times reported the day before yesterday.The spokesperson pointed out that the New York Times' report was taken out of context and did not conform to the facts.
Ma Yun said in an interview with his own Nanzao: 10 years ago, I sat down with our executives and asked this question: what would Alibaba do without me?I am very proud that Alibaba now has the structure, corporate culture, governance and systems in place to allow me to walk away without causing disruption.
Such a succession plan that consciously separates its corporate structure and day-to-day operations from its founders would make Alibaba a rare exception among Asian companies.Hangzhou-based Ali started with US$60,000 (S$82,000) and has grown into a US$420 billion giant in less than 20 years, with businesses spanning online shopping, cashless payments, cloud computing, artificial intelligence and even Hollywood moviesand other fields, employing as many as 86,000 people.
In an interview with The New York Times, Ma Yun revealed that he plans to resign as chairman of Alibaba’s board of directors tomorrow to devote more time and financial resources to education and charity, but he will still remain on Alibaba’s board of directors and continue to guide the company’s management.
Frequently talked about retirement life in recent years
Tomorrow is Jack Ma's 54th birthday and also Teacher's Day in China.Jack Ma worked as an English teacher for six years after graduating from Hangzhou Normal University in 1988.In recent years, Ma Yun has frequently talked about retirement life, and what he remembers most is charity and education.
According to a Bloomberg report the day before yesterday, Ma Yun said in an interview with Bloomberg TV that he is devoting more time and wealth to charity, following in the footsteps of Microsoft founder Bill middot; Gates, and has created an education fund named after himself.He said: I can learn a lot from Bill Gates.I will never be as rich as he is, but one thing I can do better is retire earlier.I think one day, not too long ago, I'll go back to teaching.I think I can do much better than being the CEO of Alibaba.
The escalation of the Sino-US trade war is imminent, and Jack Ma, the top leader of the two countries, has seen it. He said that the philanthropy he will engage in in the future will be a bridge to bridge the differences between the two sides.
He said: Chinese and Americans, we have one thing in common, that is love and respect, this is our common language.The first technological revolution caused the first world war, the second caused the second world war, now we are the third revolution, what will happen?It should be a war against poverty, disease, etc.
Ma Yun co-founded Alibaba with 17 other people in 1999. According to the Bloomberg Billionaires Index, as of September 8, his net worth was approximately US$39.9 billion, making him the richest man in China.
The news of Ma Yun’s resignation shocked China’s Internet industry. The industry is currently in troubled times. The sexual assault case involving JD.com founder Liu Qiangdong last week has not yet been settled.Was condemned by writer Liuliu for providing false information.
