Alibaba denies reports Jack Ma plans to leave the group

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An employee from Alibaba's public relations department has denied reports that Jack Ma, the co-founder of the Alibaba Group, is preparing to retire from company, reports

Jack Ma, co-founder of Alibaba Group. [Photo/Xinhua]

The employee told journalists with that if Jack Ma planned to retire, it would be announced to the public through official channels.

A New York Times report on Friday said that Jack Ma planned to step down from Alibaba to focus more of his energy on education philanthropy, while remaining on the board in a mentor role.

Jack Ma started Alibaba in 1999. He has turned the company into one of the world's leading e-commerce giants. When the Alibaba Group listed on the New York Stock Exchange in 2014, Jack Ma became one of the richest men in China. According to Forbes, this year his net worth is around 40 billion U.S. dollars.

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