FavoriteLoadingAdd to favorites

Jack Ma To Step Down As President Of Academy He Founded: Report

To Step Down As President Of Academy He Founded: Report

Jack Ma To Step Down As President Of Academy He Founded: Report

Jack Ma co-founded , an elite business academy, six years ago

Jack Ma will step down as president of Hupan University, an elite business academy he co-founded six years ago, amid pressure from , the Financial Times reported.

The move comes as 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.

Hupan University, a training program for executives and entrepreneurs located in Hangzhou, Ma’s hometown, had recently changed its name to Hupan Center, dropping the word “university” because it’s not a degree-granting educational institution. The school will also restructure its curriculum because authorities were concerned that Ma was building a network at odds with the Communist party’s objectives, the FT reported.

Ma was intent on remaining connected to the school, the newspaper said, but wouldn’t hold any high-level official title. Hupan had suspended enrollment of new student earlier, the paper said.

Promoted

Listen to the latest songs, only on JioSaavn.com

Alibaba referred the FT’s questions to Hupan, which didn’t respond requests to the newspaper for comment.

(Except for the headline, this has not been edited by NDTV staff and is published from a syndicated feed.)

 

Related posts

administrator

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *