Jack Ma to step down as president of his elite business school
Sun Yu and Ryan McMorrow
May 24, 2021 â 1.23pm
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Beijing | Jack Ma will step down as president of the elite business academy he founded six years ago, according to people familiar with the matter, as Beijing cracks down on the billionaireâs influence across Chinese society.
Hupan University, an executive training program that is reputedly as hard to get into as Harvard University, will also restructure its educational programme and has changed its name, the people said.
Regulators have piled pressure on the founder of e-commerce group Alibaba and his business empire.Â
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Jack Ma | Photo Softpower News Chinese billionaire Jack Ma, founder of ecommerce giant Aibaba, is going to step down as president of the elite business school he founded after having been caught in a Beijing clampdown on tech titans, the Financial Times reported Monday. Ma, formerly one of China’s most flambouyant entrepreneurs, has largely disappeared from public view since Alibaba’s fintech arm was investigated and fined by regulators for alleged monopolistic practices. The Financial Times report cited sources saying that Hupan University an elite academy for Chinese business executives established in Ma’s hometown of Hangzhou in 2015 has changed its name and will restructure its curriculum.
Jack Ma is reportedly stepping down as the president of an elite business school he founded, suggesting a further retreat from public life by China s most prominent entrepreneur in the face of government pressure on the tech industry.
Citing anonymous sources, the Financial Times reported Monday that Ma will no longer serve as the president of Hupan, which he created in 2015 with the vision of turning it into a 300-year enterprise that would become a worldwide name for entrepreneurial education.
The newspaper also reported that Hupan would restructure its education program. The Hangzhou-based school had already dropped the word university from its name, following a government clampdown on institutions that are not licensed as universities but were claiming the status.