SoftBank proposes three new board members as Alibaba's Jack Ma resigns

Jack Ma. Photographer: Tomohiro Ohsumi/Bloomberg

SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son.

The departure of Ma, who retired as Alibaba’s executive chairman in September, comes as he pulls back from formal business roles to focus on philanthropy.

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