People familiar with the matter said that the Alibaba spin-off plan was planned by Ma Yun.

(AFP file photo)

[Financial Channel/Comprehensive Report] Alibaba recently announced that it will reorganize. According to people familiar with the matter, the founder Jack Ma planned the spin-off plan of this e-commerce empire from overseas.

The "Wall Street Journal" reported that people familiar with the matter pointed out that although Jack Ma has stepped down as the chairman of Alibaba's board of directors (chairman) in 2019, he is still an influential figure in the company and actively participates in formulating company strategy.

In recent months, Jack Ma and top executives, including current chairman and chief executive Zhang Yong, have held talks calling for a spin-off of the company, a move he said would give Alibaba more flexibility and flexibility in China's increasingly crowded market, people familiar with the matter said. More competitive.

Please read on...

"WSJ" previously reported that Zhang Yong began to delegate more power to business leaders in 2021, paving the way for the spin-off of the company.

People familiar with the matter said the decision was made after consultation with Jack Ma.

Breaking up Alibaba will be a tricky task. People familiar with the matter pointed out that one of the challenges is how to place the company's various senior employees and senior management. It is Jack Ma's efforts that drove the decision to spin off the company.

One of the people familiar with the matter revealed that the senior executives who talked with Jack Ma included Jiang Fang, the deputy chief human resource officer.

Alibaba declined to comment when asked about the call.

Ma Yun made a surprise visit to a school in Hangzhou on Monday (27th), returning to China after a year.

The day before Jack Ma appeared, Alibaba had just announced that it would split its business into six independent companies, each of which would be managed by its own CEO and board of directors, and would raise funds or seek initial public offerings (IPOs) in the future. ).

According to people familiar with the matter, Jack Ma, who has been traveling overseas in recent years, returned to Hong Kong last week. He originally planned to go to Japan this week, but it is not clear why he suddenly changed his itinerary.

Jack Ma's return to China has also sparked speculation about whether he has reached any agreement with the Chinese government.

In response to the report, the Jack Ma Foundation stated in a statement that Jack Ma no longer participates in the management and operation of Alibaba, and added that Jack Ma often travels in China and overseas, focusing on the use of new technologies to develop agriculture.

An Alibaba spokesman said Zhang Yong was leading the reorganization.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news