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Softbank Group Suddenly Announced That Billionaire Jack Ma Would Resign The Board

Billionaire Jack Ma (photo from video https://www.youtube.com/watch?v=vPt1PG-Kznk).

SoftBank Group Corp on Monday said Alibaba co-founder Jack Ma will resign from SoftBank's board of directors, adding a senior figure close to CEO Masayoshi Son to leave.

SoftBank said it will propose three new people to be appointed to the council, including Chief Financial Officer (CFO) Yoshimoto Goto, at the general meeting of shareholders on June 25.

According to Reuters, billionaire Jack Ma, retired, he left the position of executive chairman of Alibaba Group in September 2019, withdrew from business to focus on charitable activities.

SoftBank also proposed two others: Lip-Bu Tan, CEO of electronic chip design software firm Cadence Design Systems, and Yuko Kawamoto, a professor at Waseda Business School (WBS).

SoftBank Group is headquartered in Tokyo, Japan, operating in telecommunications, broadband, e-commerce, technology, finance, semiconductor design, etc.

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