Alibaba co-founder-chairman Jack Ma to unveil succession plan on September 10

Jack Ma. Pic/AFP

Alibaba co-founder and chairman Jack Ma will unveil a succession plan on Monday, the South China Morning Post reported Sunday, with a company spokesman denying a New York Times report that he would retire that day.

The SCMP, which is owned by Alibaba, said China's most famous tech billionaire will "unveil a succession strategy" on Monday - his 54th birthday - but remain the company's executive chairman for the foreseeable future.

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. Eileen Murphy, a spokesperson for the New York Times, said the newspaper stood by its story.

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