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CEO of China’s Ant Group steps down
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The chief executive of Chinese fintech giant Ant Group has stepped down for “personal reasons”, a spokesperson from the Alibaba-affiliated online payment provider said Friday, amid growing regulatory scrutiny.
Simon Hu has been replaced as CEO by Ant Group executive Eric Jing, according to the company’s updated website, just months after Chinese authorities pulled the plug on the company’s colossal Hong Kong IPO.
“The Ant Group Board of Directors has accepted Mr Simon Hu’s resignation request, due to personal reasons,” Ant’s spokesperson said in a statement.
China's Ant Group Chief Executive Officer Simon Hu has stepped down from his role and will be replaced by Executive Chairman Eric Jing, the financial technology giant said Friday. "The Ant Group Board of Directors has accepted Mr. Simon Hu's resignation request, due to personal reasons," Ant said in a statement. Hu's exit from the…
China s Ant Group chief executive Simon Hu resigns
12 Mar 2021 - 16:25
Simon Hu, CEO of Ant Group, is seen on a giant screen as he delivers a speech at the INCLUSION Fintech Conference in Shanghai, China September 24, 2020. REUTERS/Cheng Leng/File Photo
Reuters
China s Ant Group Chief Executive Officer Simon Hu has stepped down from his role and will be replaced by Executive Chairman Eric Jing, the financial technology giant said on Friday. The Ant Group Board of Directors has accepted Mr. Simon Hu s resignation request, due to personal reasons, Ant said in a statement.
Hu s exit from the company comes as Ant is working on plans to shift to a financial holding company structure following intense regulatory pressure to subject them to rules and capital requirements similar to those for banks.