Jack Ma Alibaba's CEO steps out from the shadows with morale-boosting post

Jack Ma Alibaba's CEO steps out from the shadows with morale-boosting post. It has had a tumultuous time since then, installing a new CEO, announcing and then abandoning the listings of its cloud and logistics units. At the same time, it has lost ground in e-commerce to low-cost rivals such as PDD Holdings (PDD.O) opens new tab and ByteDance-owned Douyin, the Chinese version of TikTok. In the post, which was roughly a page long, Ma praised the leadership of CEO Eddie Wu and Chairman Joe Tsai and said the split into six divisions had helped streamline decision-making, making Alibaba more agile and customer-focused. He also said Alibaba had made many mistakes in the past. "We must not only have the courage to admit and correct yesterday's problems in a timely manner but also make reforms for the future," he said, according to a copy of the post seen by Reuters and verified by a source who had viewed it on Alibaba's intranet. "This year, amid the many doubts and pressures on the company internally and externally, I saw the birth of a strong and brave Alibaba team," he added. The post was the longest made by Ma, who owns roughly 4% of Alibaba, on the company's intranet in five years. Alibaba did not immediately respond to a request for comment on the post. Jacob Cooke, CEO of e-commerce consultancy WPIC Marketing + Technologies, said he believed the letter was aimed at "restoring internal and external confidence in Alibaba's leadership" given that "the chorus of negative voice.