Alibaba bonus scheme strengthens Jack Ma's control

IRON GRIP: Jack Ma holds deep sway over executive and board appointments at China's biggest e-commerce company, and that influence is set to strengthen further at the firm with a bonus programme that allowed senior executives and Alibaba staff to acquire share rights at an affiliated company he controls. — Reuters

BEIJING: Jack Ma, founder and executive chairman of Alibaba Group Holding, holds deep sway over executive and board appointments at China's biggest e-commerce company, and that influence is set to strengthen further at the firm, which is heading towards a New York IPO that is expected to raise more than US$15bil (RM47.85bil) later this year. 

In Alibaba's latest filings with the US Securities and Exchange Commission (SEC), it said Ma this year initiated a bonus programme that allowed senior executives and Alibaba staff to acquire share rights at an affiliated company he controls.