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Jack Ma Is Leaving the Board of SoftBank amid Worst Annual Loss

Yiran Dai

Summary: Nikkei Asian Review reported on Sunday that Jack Ma, co-founder of the Alibaba Group Holding, has requested and will leave SoftBank Group’s board after 13 years since 2007. Meanwhile, SoftBank remains the largest shareholder of Alibaba, owning over 25% of nearly $125 billion.

Nikkei Asian Review reported on Sunday that Jack Ma, co-founder of the Alibaba Group Holding, has requested and will leave SoftBank Group’s board after 13 years since 2007. Meanwhile, SoftBank remains the largest shareholder of Alibaba, owning over 25% of nearly $125 billion.

SoftBank released the announcement right before its annual earnings conference on Monday, where the multinational conglomerate company’s CEO, Masayoshi Son, tried to convince investors the company would overcome its worst yearly loss of 1.8 trillion yen ($16.7 billion).

SoftBank also inaugurated three new directors: CFO Yoshimitsu Goto, Cadence CEO Lip-Bu Tan, and professor Yoko Kawamoto of Waseda Business School.

By Yiran Dai

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