Jack Ma Gives Up Position In China's Prestigious Guild - Read Why

Anusuya Lahiri
·2 min read
22
  • Oops!
    Something went wrong.
    Please try again later.

  • Alibaba Group Holding Limited (NYSE: BABA) co-founder Jack Ma stepped down as the General Association of Zhejiang Entrepreneurs president, a position he has held since 2015.

  • Ma, now 58, continued his post-retirement tour of food-related businesses and farms worldwide, SCMP reports.

  • Nan Cunhui, the chairman of the electric parts maker Chint Group, succeeded Ma as the head of the prestigious guild in his home province, an area in China long-known for private entrepreneurship.

  • Also Read: Alibaba And Other Chinese Stocks Decline Premarket On Weak Macro Data, Dismal Projection From Analysts

  • The guild offered Ma a prestigious backdrop to articulate entrepreneurship, management, and governance, and now it provided him with an honorary title as an adviser.

  • Ma retired and stepped down as Alibaba’s executive chairman in 2019. Ma does not look to live abroad permanently.

  • Ma will go to Southeast Asia for a similar look at agriculture-related businesses.

  • Ma, who spent one in every three days of the year traveling in 2018, scaled back his schedule significantly in retirement.

  • He spent the past three months in Japan, where he examined the operations of farmed fishery technology, extending his interest in sustainable agriculture and the food industry.

  • Ma visited the Oshima station of the Kindai University’s Aquaculture Research Institute in Japan’s Wakayama prefecture in September when he turned 58.

  • Ma looked to bring home later the advanced agricultural technology he learned from other countries.

  • He visited a research institute in the Netherlands in October 2021 to acquaint himself with food-related technology, including agricultural infrastructure, plant breeding, and the training of experts in the field.

  • Ma believed that combining the latest technology would create tremendous potential for the modernization of agriculture in China and developing countries.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.