Alibaba co-founder Jack Ma will be resigning from SoftBank board of directors. Jack Ma serving for nearly 13 years in the board. Ma is expected to resign from the Group’s board on June 25. The news comes as the group posted record financial loss of USD 13 billion. Jack Ma had retired as the Executive Chairman of Alibaba in September 2019.
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The Softbank Group’s board of directors comprises 11 directors. The Group is expected to expand the number of its board members to 13. The company recently proposed nomination of three new directors to the board: chief Financial Officer Yoshimoto Got, Cadence Design Systems CEO Lip-Bu Tan and Waseda Business School professor Yuko Kawamoto.
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