Mon Dec 09 18:10:25 UTC 2024: **Ant Group Names New CEO**
HONG KONG (Reuters) – Ant Group, the Chinese fintech giant, announced a change in leadership on Tuesday. Cyril Han, currently president and CFO, will become chief executive officer, effective March 1st. The appointment was confirmed by an internal memo and a company spokesperson. Han will report to Eric Jing, who will remain chairman.
This transition follows Ant Group’s significant organizational restructuring last year, triggered by a $984 million fine for regulatory violations. As president, Han oversaw Ant’s digital payments, connectivity, and finance businesses. He joined Alipay, Ant’s flagship mobile payment app, in 2014.
Ant Group, a subsidiary of Alibaba Group, operates Alipay and was once valued at over $300 billion. Its initial public offering was halted due to regulatory concerns. The company recently reported a strong first-quarter net profit of $1.04 billion.
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