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No, billionaire Jack Ma is not going to leave Alibaba, which he founded

And next week he will come to Russia.

On the night of September 8, The New York Times reported that billionaire and the richest man of China, Jack Ma, will leave Alibaba Group on September 10, which he himself founded. Several media outlets asked for comments from the holding’s representatives: they responded after a while, but only gave a link to the material of the South China Morning Post.

SCMP should be considered an authoritative source in this case, since it is wholly owned by Alibaba Group. A spokesman for the holding, in a conversation with the publication, said that the NY Times snatched the words of the businessman out of context and made a factual mistake.

A spokesman for the Alibaba Group told SCMP that Jack Ma will remain chairman of the company’s board of directors “for a significant period of time.”

According to SCMP, Ma intends to disclose the details of the succession plan for Alibaba on September 10, the day of his 54th birthday. Although the entrepreneur will remain in the company, it seems that his role will gradually decline. This is not an unexpected decision: as early as 2013, Ma stepped down as CEO and urged the business to be “more young with more fresh ideas.”

Ten years ago I sat down with our top managers and asked what Alibaba could do without me. I am very proud that now the company has formed a structure, corporate culture, management and career development system for talented employees, which allow me to leave without causing failures.

Jack Ma
in the comments of South China Morning Post

SCMP also indicated that next week, between 10 and 16 September, Jack Ma will travel to Russia to conclude a deal with Mail.Ru Group. MRG, Alibaba Group and the Russian Direct Investment Fund (RFPI) are working on the creation of a joint project in the field of online commerce.

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