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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 at Money Map Press.
