Ant Group CEO Simon Hu resigns, Eric Jing to replace him
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Ant Group CEO Simon Hu resigns, Eric Jing to replace himBy Yingzhi Yang & Cheng Leng, Reuters
Last Updated: Mar 12, 2021, 07:28 PM IST
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Synopsis
Simon Hu’s resignation as Ant Group CEO comes at a time when the fintech giant is being pushed by regulators to revamp operations after its failed $37 billion IPO.
Reuters
Simon Hu, chief executive officer of Ant Group.
China s Ant Group Chief Executive Officer Simon Hu has stepped down from his role, the company said on Friday, as the fintech giant is being pushed by regulators to revamp operations after its failed $37 billion initial public offering (IPO).
China s Ant Group CEO Departs Amid Regulatory-Driven Revamp China s Ant Group CEO Departs Amid Regulatory-Driven Revamp Hu, who was named the chief executive of the Alibaba Group Holding in 2019, will be replaced by company veteran and Executive Chairman Eric Jing, the financial technology giant said.
Simon Hu, CEO of Ant Group, is seen on a giant screen as he delivers a speech.
China s Ant Group Chief Executive Officer Simon Hu has stepped down from his role, the company said on Friday, as the fintech giant is being pushed by regulators to revamp operations after its failed $37 billion initial public offering (IPO).
Hu, who was named chief executive of the Alibaba Group Holding affiliate in 2019, will be replaced by company veteran and Executive Chairman Eric Jing, Ant said. U.S.-listed shares in billionaire Jack Ma's Alibaba were down 2.6% in premarket trade on Friday.
Hu, who was named the chief executive of the Alibaba Group Holding in 2019, will be replaced by company veteran and Executive Chairman Eric Jing, the financial technology giant said.
Ant Group CEO Simon Hu Resigns
BEIJING (dpa-AFX) - Ant Group chief executive officer Simon Hu has resigned. Its Chairman Eric Jing would take over as CEO, effective immediately, according to several reports.
A spokesperson for Ant Group reportedly said, The Ant Group Board of Directors has accepted Mr. Simon Hu s resignation request, due to personal reasons.
Ant Group, formerly known as Ant Financial and Alipay, is an affiliate company of Billionaire Jack Ma s Alibaba Group.
Simon Hu became Ant Group CEO in December 2019 after a year working as the group s president. Before that, he spent four years as the CEO of Alibaba Cloud Computing.