Jack Ma To Step Down As President Of Academy He Founded: Report

The move comes as Chinese authorities crack down on the influence of the billionaire co-founder of Alibaba Group Holding Ltd., the newspaper said, citing people familiar with the matter.

Jack Ma To Step Down As President Of Academy He Founded: Report

Jack Ma co-founded Hupan University, an elite business academy, six years ago



Jack Ma will step down as president of Hupan University, an elite business academy he co-founded six years ago, amid pressure from Beijing, the Financial Times reported.

The move comes as Chinese authorities crack down on the influence of the billionaire co-founder of Alibaba Group Holding Ltd., the newspaper said, citing people familiar with the matter. Ma abruptly fell from grace after blasting financial regulators in a public speech last October. Since then, his highly-anticipated initial public offering by Ant Group Co. has been put on hold, and Ma has largely stayed out of public view.

Hupan University, a training program for executives and entrepreneurs located in Hangzhou, Ma’s hometown, had recently changed its name to Hupan Innovation Center, dropping the word “university” because it’s not a degree-granting educational institution. The school will also restructure its curriculum because authorities were concerned that Ma was building a network at odds with the Communist party’s objectives, the FT reported.

Ma was intent on remaining connected to the school, the newspaper said, but wouldn’t hold any high-level official title. Hupan had suspended enrollment of new student earlier, the paper said.

Alibaba referred the FT’s questions to Hupan, which didn’t respond requests to the newspaper for comment.

(Except for the headline, this story has not been edited by our staff and is published from a syndicated feed.)

Leave a Comment

All the data shown above will be stored by www.rajpostexam.com on https://www.rajpostexam.com/. At any point of time, you can contact us and select the data you wish to anonymise or delete so it cannot be linked to your email address any longer. When your data is anonymised or deleted, you will receive an email confirmation. We also use cookies and/or similar technologies to analyse customer behaviour, administer the website, track users' movements, and to collect information about users. This is done in order to personalise and enhance your experience with us. Click here to read our Cookie Policy.