Alibaba Co-Founder Jack Ma resigns as Softbank board member

Softbank Group Corp has announced that Alibaba Co-Founder and long time ally of Softbank chief Masayoshi Son, Jack Ma has resigned his position as board member. In September last year, Ma departed as Chairman of Alibaba Group stating his intention of focusing on philanthropy.

Softbank will announce new additions to the board at its annual general meeting on 25 June. Softbank plans to expand its board membership to 13.