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Alibaba's Jack Ma to unveil succession plan this week, remain chairman

Alibaba founder Jack Ma gestures as he arrived for a meeting with Thailand's Prime Minister Prayuth Chan-ocha in Bangkok during a visit to the country to announce the group's investment in the Thai government's Eastern Economic Corridor (EEC) scheme. [AFP]

Alibaba Group Holding Ltd’s billionaire co-founder Jack Ma will announce a succession plan today to hand the reins of his sprawling empire to a new generation of leaders but will remain executive chairman for the time being.  

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 newspaper reported citing a company spokesman.

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