Ant Group's President Han to become CEO in March; Jing to stay as chairman
China's Ant Group, Cyril Han, will take over from Eric Jing as chief executive from March 1, showed an internal memo seen by Reuters which was confirmed by a spokesperson.
Han will continue to report to Jing who will remain as chairman, the memo showed.
Han became president in March during the fintech's biggest organisational change since it was fined $984 million in July 2023 for violations in areas such as corporate governance.
As president, Han was responsible for Ant's digital payments, digital connectivity and digital finance businesses.
Ant is the financial affiliate of e-commerce giant Alibaba Group, which owns 33%. It operates mobile payment app Alipay and was valued at over $300 billion in mid-2020 before an IPO that pulled due to regulatory concerns.
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