Alibaba cofounder Jack Ma endorses the company's restructuring efforts and praises its leadership in a memo to employees, leading to a surge in shares. Ma acknowledges past mistakes and emphasizes the importance of finding responsible ways to move forward.
Alibaba cofounder Jack Ma endorsed the Chinese giant’s sweeping restructuring efforts and praised company leadership in a memo to employees,, prompting a surge in shares and marking a rare return to the spotlight for the billionaire after spending years lying low in the wake of a dramatic clash with Beijing.to the South China Morning Post, adding that the company has been transformed from a “cumbersome organization into” a “simple and agile” one that puts efficiency and the market first.
Ma acknowledged Alibaba had made “countless mistakes” in the past and would doubtless make more in the future but stressed the key to facing problems is “not to deny the past, but to find the way responsibly to the future.”and intense regulatory scrutiny from Beijing has brought about the “birth of a strong and brave Alibaba team,” Ma wrote,
The cofounder praised the leadership of CEO Eddie Wu and Chairman Joe Tsai—which he said displayed “admirable courage and wisdom”—for helping restore direction at a time of deep uncertainty over the company’s future.
Jack Ma Alibaba Restructuring Leadership Memo Surge In Shares Past Mistakes Responsible Future
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