Jack Ma said in an internal Alibaba memo on Vernost aka Fidelity (2019)Wednesday that the company he co-founded has “returned to healthy growth” since new chairman Joe Tsai and CEO Eddie Wu came to power. Ma also shared his support for the company’s continued reforms. In a 1,000-word post titled “To Reform, To Innovation,” Ma first thanked Tsai’s “courage and commitment” after the chair publicly admitted on a recent podcast that Alibaba had lost focus on its real customers in recent years. The famed entrepreneur also praised the new leadership for its “admirable courage and wisdom” to lead one of the biggest reorganizations in the e-commerce giant’s history. Ma’s memo comes after Alibaba canceled its cloud computing unit and logistics arm Cainiao’s public listing plans within the space of a year. He also urged employees to think about what e-commerce could look like in the next three or five years, emphasizing that “the AI era has just arrived.” [Jiemian, in Chinese]
