BEIJING – Alibaba Group Holding Ltd’s co-founder Jack Ma will remain as executive chairman, and will unveil a succession strategy on Monday on his 54th birthday, South China Morning Post reported on Saturday, citing a company spokesman.

Ma will provide transition plans over a significant period of time, the spokesman was quoted as saying, adding that the succession strategy is part of a management plan 10 years in the making.

The New York Times reported on Friday that Ma will retire from the e-commerce company on Monday.