China’s largest e-commerce company is preparing for an initial public offering.
Ma, 48, will remain as chairman, he said in a letter to employees today. He will end his tenure as CEO on May 10, when a replacement will probably be named.
“A series of changes at Alibaba Group suggests that an IPO is imminent,” said Wendy Huang, a CIMB Securities Ltd. analyst in Hong Kong. Ma’s role “will not change too much” because he already is focused on long-term strategy, she said.