Jack Ma, the co-founder of Alibaba, has publicly endorsed the company’s restructuring efforts in a rare statement, highlighting the leadership’s vision for a new chapter in its evolution. Ma’s message to employees, shared on the internal forum, marks a significant shift from his previous silence amidst challenges with Chinese regulators and a retreat from the public eye.
AFP
In his memo, Ma praises Alibaba’s decision to restructure into six distinct business units, transforming the organization into a more agile and efficient entity. He emphasizes the importance of learning from past mistakes and moving forward responsibly, acknowledging the internal and external pressures faced by the company.
Ma highlights the resilience of Alibaba’s team in the face of challenges, crediting CEO Eddie Wu and Chairman Joe Tsai for their leadership during uncertain times. The endorsement from Ma led to a 5% surge in Alibaba’s shares in Hong Kong, reflecting investor confidence in the company’s strategic direction.
Despite stepping down from his executive role in 2019, Ma remains a significant shareholder in Alibaba and a respected figure within the company. His memo is expected to boost morale among employees and reaffirm the company’s commitment to success amidst ongoing challenges.
Ma’s return to public discourse signals a renewed focus on Alibaba’s future, dispelling previous speculation about his intentions post-retirement. The company’s restructuring and management changes demonstrate a strategic response to market dynamics and regulatory challenges, positioning Alibaba for continued growth and innovation.
U.S.
China
2024-04-12 17:51:02
Source from www.ibtimes.com