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China tech

Ant Group CEO Simon Hu resigns four months after halted IPO

Resignation comes amid regulatory crackdown by Chinese authorities

Simon Hu, then-CEO of Ant Group, delivers a speech at a financial technology conference in Shanghai in September 2020.   © Reuters
NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent | China

HONG KONG -- Chinese financial technology company Ant Group, which is overhauling its business amid a regulatory crackdown, said Friday its CEO Simon Hu has resigned, citing personal reasons.

Chairman Eric Jing will take over as chief executive effective immediately, according to the Alibaba Group Holding-backed company's website.

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