Knight Investment Limited –Alibaba – Founder Jack Ma to Confirm Details of Departure on Monday

HONG KONG - Sept. 9, 2018 - PRLog -- Ma will announce the plan on his 54th birthday and the handover strategy will stretch over a significant period of time, the South China Morning Post (SCMP) newspaper reported citing a company spokesman.

Alibaba declined to comment but pointed towards the SCMP story when asked about Ma's plans.

Ma, who co-founded Alibaba in 1999, stepped down as chief executive in 2013. He currently serves as the company's international face at top political and business events.

The New York Times reported on Friday that Ma would retire from the e-commerce company on Monday as the former English teacher seeks to focus on philanthropy in education.

China's third richest person with a net worth of $36.6 billion according to Forbes magazine, Ma was quoted by the New York Times as saying his retirement was not the end of an era, but the beginning of one.

While Ma's plan to gradually step back is a milestone, analysts and industry professionals said it was unlikely his involvement would change significantly.

"I don't think it means that much, frankly. He stepped back from the CEO role about four or five years ago and very specifically made a comment about wanting the younger people to lead the company," said James Warner, Senior Advisor at Knight Investment.

Ma oversees a number of charitable projects in education and environmental fields. He is a cult figure in China's internet industry and has attracted a big following among entrepreneurs and in pop culture. At events, he is often met with screaming fans.

Knight Investment believes that the move by Jack Ma is a positive step in a direction many knew was going to happen.

Knight see's Alibaba Group Holding Limited as a Strong Buy, to find out more contact us today at info@knight-investment.com or visit our website www.knight-investment.com to find out more about their services and products available.