Alibaba co-founder Jack Ma endorsed the company's restructuring, praised leadership, and boosted shares by 5%.
Alibaba co-founder Jack Ma endorsed the company's restructuring efforts and praised its leadership in a rare memo to employees, leading to a surge in shares. Ma's memo, which praised CEO Eddie Wu and Chairman Joe Tsai, marked his return to the spotlight after spending years out of it. The post reportedly boosted Alibaba's Hong Kong-listed shares by 5%. Ma acknowledged Alibaba's past mistakes and emphasized the company's transformation into a simple, agile organization focused on customer needs and efficiency.
April 10, 2024
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