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SoftBank

Jack Ma leaves SoftBank board after 13 years

Independent directors named as CEO Son tries to boost confidence after big loss

SoftBank founder and chairman Masayoshi Son and Alibaba Group Holding co-founder Jack Ma at Tokyo University in 2019 (Photo by Ken Kobayashi)

TOKYO -- SoftBank Group is ending an era of close involvement with Jack Ma, saying on Monday that the Alibaba Group Holding co-founder would leave its board after 13 years.

Softbank also named three new directors, two of whom are independent, amid calls from an activist investor to boost shareholder returns and strengthen corporate governance.

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