If you couldn’t tell, I’m a fan of Jack Ma.
The Alibaba Group Holding Ltd. (NYSE: BABA) founder is the “maestro of innovation,” who turned just another Chinese e-commerce outfit into a world-beating heavyweight that could give Amazon.com Inc. (NASDAQ: AMZN) a run for its money.
This past weekend, the company confirmed that Ma will be turning Alibaba’s reins over to CEO Daniel Zhang next year – and will step away from the company board in 2020.
Ma, trained as an English schoolteacher, will turn his focus to philanthropy and education – and will pursue “new dreams.”
This succession at the top of Asia’s most valuable company must feel quite disconcerting – especially coming, as it does, amid a scary trade spat between Washington and Beijing.
But I’m here to tell you: It doesn’t matter.
In fact, it could well be viewed as a positive – since there’s actually a succession plan in place.
That’s not always the case, you see.
And the lack of such a plan is not a good thing – not a good thing at all.
About the Author
Before he moved into the investment-research business in 2005, William (Bill) Patalon III spent 22 years as an award-winning financial reporter, columnist, and editor. Today he is the Executive Editor and Senior Research Analyst for Money Morning. With his latest project, Private Briefing, Bill takes you “behind the scenes” of his established investment news website for a closer look at the action. Members get all the expert analysis and exclusive scoops he can’t publish… and some of the most valuable picks that turn up in Bill’s closed-door sessions with editors and experts.