Jack Ma to step down as president of his business school, reports FT | Malay Mail

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BEIJING, May 24 — Chinese billionaire Jack Ma, founder of ecommerce giant Alibaba, is going to step down as president of the elite business school he founded after having been caught in a Beijing clampdown on tech titans, the Financial Times (FT) reported today. Ma, formerly one of China’s most...

Monday, 24 May 2021 03:50 PM MYT

Ma will not hold any high-level title at the restructured organisation, the report said, as Beijing seeks to limit his influence. Viral videos circulating on Chinese social media earlier this month showed construction workers using a blow torch to remove characters on a large “Hupan University” sign. In a series of blows for the group, Alibaba was fined a record 18.2 billion yuan by antitrust authorities last month, and its fintech arm Ant Financial has been ordered to restructure its business after a planned listing was scuppered.

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