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Ant Group CEO Simon Hu Said to Resign, Jing to Take Position

  • Ant Chairman Jing will take over as CEO with immediate effect
  • Hu took over as CEO in 2019 and resigned for personal reasons
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Ant Group CEO Simon Hu Said to Resign
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Simon Hu has unexpectedly resigned as chief executive officer of Ant Group Co., adding fresh turmoil to the financial technology giant as it grapples with Chinese government demands to overhaul its business.

Hu resigned for personal reasons, also stepping down from his role as an executive director on the company’s board, said a person familiar with the matter, who asked not to be identified because the information isn’t public. Eric Jing, already Ant’s chairman, will become CEO as well effective immediately, the person said. A spokesperson for Ant, founded by billionaire Jack Ma, confirmed Hu’s resignation.