Jack Ma, the founder of Alibaba, posted a message to the company’s employees discussing the recent developments within the company. This includes the division of business into subsidiaries, the restructuring of the internal organization, the resignation of CEO Daniel Zhang, and the significant drop in stock prices, with Pinduoduo emerging as a fierce competitor with a higher market value at one point. (Alibaba has since regained its value).
Ma expressed his support for the major organizational restructuring currently taking place and confirmed that the current actions taken by executives Joseph Tsai and Eddie Wu are on the right track. He urged Alibaba employees to support and collaborate in this direction. He also encouraged them to think outside the box as Alibaba is currently trapped in the rigidity of a large corporation and needs to refocus on customers and operate swiftly once again.
Source: Bloomberg
TLDR: Jack Ma discussed recent company developments, including structural changes and leadership transitions, encouraging Alibaba employees to support the restructuring and think innovatively to refocus on customer-centric operations.
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