Alibaba's Jack Ma resigns; SoftBank proposes three new board members | Business Upturn

Alibaba’s Jack Ma resigns; SoftBank proposes three new board members

The Japanese multinational company SoftBank that started as a telecommunications company is now a multi-million dollar conglomerate. Recently, the board made an official announcement in a press conference. The Chinese entrepreneur Jack Ma would be resigning from his entitled position of ‘Executive Board Member”. This marks as his second resignation as he retired from his own company Alibaba last September as the Executive Chairman. CEO of SoftBank Masayoshi Son envisions his firm to have a greater potential in terms of growth. With that in mind he is in the process to appoint 3 new Board Members that would signify the panel. He believes that their success instincts would not only add diversity to the board but also increase the annual funding.

On the 25th of June in SoftBank’s Annual Board Meeting the new candidates will be proposed. Chief Financial Officer Yoshimoto Goto will also be elected. Lip-Bu Tan, CEO of chip design software firm. Also chairman of venture capital firm Walden International will be invited to join the board. Lastly, the first female member on the board would be Yuko Kawamoto, a professor at Waseda Business School as an outside director. This would now officially expand board members to be 13 in total.