On March 21, Beijing time, Jack Ma, who has announced his retirement as chief executive of Alibaba group, made a high-profile appearance in front of international investors. It is also said that the solution of Alipay VIE will soon bear fruit.
In 2011, Alipay's VIE incident made Ma Yun controversial. Since then, Alibaba, YAHOO and Softbank have signed an agreement on Alipay's equity transfer. Alipay's holding company promised to give Alibaba group a one-time cash return when listing, the amount of return is 37.5% of the total market value of Alipay listed, and the amount of repayment will be no less than 2 billion dollars and not more than 6 billion dollars.
'we'll see the result of how to completely solve the vie soon.' at the same time, Ma Yun joked that 'fortunately, I'm not the CEO at that time, and it's up to the new CEO to make the decision. 'on January 15, 2013, Ma Yun announced that he would resign as CEO and retain only the post of chairman of the board of directors. On March 11, Ma Yun appointed Lu Zhaoxi, the group's chief data officer, to take over as CEO.