NEW DELHI: Jack Ma, Alibaba Group’s co-founder, has emerged from his recent retreat from the public eye with a significant memo to the company’s employees. This rare communication is seen as an endorsement of Alibaba’s restructuring efforts, sparking speculation about Ma’s potential return to a more visible role in guiding the tech giant. Following the release of Ma’s memo, Alibaba’s shares in Hong Kong soared by 5.5% in morning trading, marking the stock’s largest single-day percentage increase since February 6.
In his message, Ma commended the leadership of CEO Eddie Wu and chairman Joe Tsai. He noted that the company’s decision to split into six divisions a year ago has enhanced its agility, focusing more on customer needs and speeding up decision-making processes.
As per a SCMP report, Ma has affirmed “admirable courage and wisdom” by Tsai and wrote: “We made countless mistakes in the past 25 years, and we will [continue to] make mistakes in the next 77 years. Facing problems is not to deny the past, but to find the way responsibly to the future.”
Ma’s hiatus from the spotlight began after his critical remarks about Chinese regulatory authorities in October 2020, which led to the halting of the Ant Group’s highly anticipated initial public offering (IPO). Following the incident, China’s tech sector faced rigorous regulatory scrutiny, during which Ma opted for a lower profile.
In his latest post, Ma emphasized Alibaba’s commitment to innovation, saying, “Our innovation has never been to surpass our opponents, but to catch up to the future.” He elaborated on the nature of innovation, highlighting it as a measure of adaptability rather than a pursuit of trends, “Innovation is not about following the trend, it’s a test of your true ability to survive.”
Ma’s message to the staff is clear: Alibaba must embrace change, focusing on improving the consumer experience in the face of evolving technology landscapes. The future of e-commerce, according to Ma, lies not in competing with today’s counterparts but in envisioning and realizing the possibilities of tomorrow.
(With inputs from agencies)
In his message, Ma commended the leadership of CEO Eddie Wu and chairman Joe Tsai. He noted that the company’s decision to split into six divisions a year ago has enhanced its agility, focusing more on customer needs and speeding up decision-making processes.
As per a SCMP report, Ma has affirmed “admirable courage and wisdom” by Tsai and wrote: “We made countless mistakes in the past 25 years, and we will [continue to] make mistakes in the next 77 years. Facing problems is not to deny the past, but to find the way responsibly to the future.”
Ma’s hiatus from the spotlight began after his critical remarks about Chinese regulatory authorities in October 2020, which led to the halting of the Ant Group’s highly anticipated initial public offering (IPO). Following the incident, China’s tech sector faced rigorous regulatory scrutiny, during which Ma opted for a lower profile.
In his latest post, Ma emphasized Alibaba’s commitment to innovation, saying, “Our innovation has never been to surpass our opponents, but to catch up to the future.” He elaborated on the nature of innovation, highlighting it as a measure of adaptability rather than a pursuit of trends, “Innovation is not about following the trend, it’s a test of your true ability to survive.”
Ma’s message to the staff is clear: Alibaba must embrace change, focusing on improving the consumer experience in the face of evolving technology landscapes. The future of e-commerce, according to Ma, lies not in competing with today’s counterparts but in envisioning and realizing the possibilities of tomorrow.
(With inputs from agencies)
Source Agencies
