Alibaba Co-founder Jack Ma leaving SoftBank's board after 13 years

Japanese conglomerate SoftBank Group has announced that Alibaba Co-founder Jack Ma is leaving its board of directors on June 25. Ma, who retired as Alibaba's Executive Chairman in September, is pulling back from formal business roles to focus on philanthropy. He had joined SoftBank's board in 2007. SoftBank will propose three new appointments to the board, including CFO Yoshimitsu Goto.