Jack Ma to Step Down as President of Academy He Founded, FT Says
- Move came amid Beijing’s crackdown on Ma’s influence
- Hupan University is changing name and curriculum, paper says
This article is for subscribers only.
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.