Jack Ma’s CEO Ant Group resigns

13/03/2021 09:39 GMT + 7

As one of the contributors to the founding of Ant Group, the departure of Ho Hieu Minh as CEO will create insurmountable losses for Alibaba’s financial sector.

On the evening of March 12, Ant Group CEO Ho Hieu Minh suddenly posted an internal email saying he would resign as CEO and will be responsible for Ant’s eco-welfare and social-welfare projects. Future.

Ho Nhat Minh assumed the position of CEO of Ant Group from December 19, 2019

After Mr. Ho Hieu Minh left his office, Chairman of Hien Dong Province (Eric Jing) will concurrently hold the position of CEO of Ant Group. In this regard, Ant Group also confirmed and said that the board of directors agreed to this request based on Ho Hieu Minh’s personal wishes, and thanked him for his efforts and tribute. donate to the company.

According to the data, Ho Xiaoming joined Alibaba in June 2005, he used to be the head of risk and manager of Alibaba’s lending business for SMEs, and also held a concurrent position. president of Alibaba Cloud.

Since joining Jack Ma’s group, Ho Xiaoming has been involved in leading the establishment and development of many Alipay businesses, as well as Ant Group. Ho Xiaoming’s resignation announcement was announced quite suddenly after just over a year since he took the position of CEO of Ant Group.

On December 19, 2019, Ho Hieu Minh assumed the position of CEO under Hien Dong Province, who continues to hold the position of Chairman of Ant Group. At the same time, the company will comprehensively accelerate the three major strategies that are globalization, domestic demand and technology. In addition, the Ant International business group, the smart technology business group, the human resources, finance and strategic investment sectors will also be coordinated by Hien Dong Province chairman.

At that time, Ant Group announced, Hien Dong Province would devote more energy to the global market and smart technology as well as other “future and acquired” sectors. Meanwhile, Ho Hieu Minh leads the team focusing on the domestic market and helping more service industries to achieve digital upgrades. However, with the increased supervision of the Chinese government, this beautiful vision is further precarious.

On September 24 of last year, at the First Conference of the Bund, Wang Kien, a member of the Chinese Academy of Engineering, and Ho Xiaoming, talked about the past and future of talented technology. main. This is also the most recent appearance of CEO Ant Group to the media.

Earlier, in an interview, Ho Xiaoming revealed that 10 years ago, he and Jack Ma and others had prepared for the establishment of Alibaba Finance (currently Ant Group), aiming to use Internet technology to solving the world’s problems with micro and small business lending.

In addition, the data also shows that Ho Hieu Minh is one of the partners of Alibaba Group, he currently holds the position of CEO at 26 companies and 9 other companies as legal representative. the law. Besides, Ho Hieu Minh is currently the chairman and legal representative of Tianhong Fund Company, President of Internet Commercial Bank, China Unicom.

During Ho Hieu Minh’s tenure, the senior IPO of Ant Group was urgently suspended. This was one of the hottest events in the capital market at the time. Once Ant Group is successfully listed, it is expected to raise 230 billion yuan, surpassing Saudi Aramco and becoming the largest IPO in the world.

Now, with the influence of President Xi Jinping as well as the close supervision from the Chinese government, along with the sudden departure of Ho Xiaoming CEO, Ant Group’s path to market is increasingly. becomes more unpredictable.

Phong Vu

Jack Ma is helplessly unable to `` save ''.  Ant Group and Alipay

The helpless Jack Ma could not “save” Ant Group and Alipay

According to the latest analysis from Bloomberg Intelligence, Ant Group’s valuation could drop even further after a sharp drop of 66%.


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