[kictanet] [Leadership & Corporate Governance] Succession Planning - Lessons from Jack Ma

[Patrick A. M. Maina]

 Dear Listers, 

In a letter to Alibaba’s customers and shareholders (see link #1), Jack Ma announced his successor and mapped his own exit as CEO.

A few excerpts:
"This transition demonstrates that Alibaba has stepped up to the next level of corporate governance from a company that relies on individuals, to one built on systems of organizational excellence and a culture of talent development.
A sustainable Alibaba would have to be built on sound governance, culture-centric philosophy, and consistency in developing talent. No company can rely solely on its founders. Of all people, I should know that. Because of physical limits on one's ability and energy, no one can shoulder the responsibilities of chairman and CEO forever.
We asked ourselves this question 10 years ago - how could Alibaba achieve sustainable growth after Jack Ma leaves the company? We believed the only way to solve the problem of corporate leadership succession was to develop a system of governance based on a unique culture and mechanisms for developing consistent talent and successors. For the last 10 years, we kept working on these ingredients.”
DISCUSSION:
Visionary leaders develop other leaders because they see the company's vision and mission as bigger than themselves (see link #3). Jack Ma's star is even brighter because he allowed his juniors to shine. 

Do you agree that the presence (or absence) of succession planing can be an indicator of leadership caliber? How does private sector Africa fare when it comes to succession planning and local talent development? 

Good day. 

Links:

1. Jack Ma's Succession letter to customers and shareholders
https://asia.nikkei.com/Business/Companies/Alibaba-s-Jack-Ma-reveals-succession-plan-in-letter-full-text
2. Alibaba profits jump under Jack Ma's successor  
https://techcrunch.com/2019/05/15/alibaba-2019-annual-earnings/
3. Deloitte: How to overcome the succession planning paradox
https://www2.deloitte.com/insights/us/en/topics/leadership/effective-leadership-succession-planning.html
Brgds,Patrick.
Patrick A. M. Maina[Cross-domain Innovator | Public Policy Analyst - Indigenous Innovations]
 



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