Ant Group Appoints Cyril Han as New CEO: Jack Ma talks AI

Ant Group announced on Sunday that Cyril Han, the current president and finance chief, will assume the role of chief executive officer starting March 1, 2025. This leadership transition comes as the financial technology giant seeks to revitalize its growth following the Chinese government’s crackdown on the tech sector. Eric Jing, the outgoing CEO, will continue to serve as chairman and will report to Han.

The announcement coincided with Ant Group’s twentieth-anniversary celebrations, which featured remarks from Jack Ma, the founder of both Alibaba and Ant Group. In his speech, Ma reflected on the fortunate circumstances his generation encountered with the rise of the internet. He expressed optimism about the future, predicting that the upcoming era of artificial intelligence would “exceed everyone’s imagination,” according to a transcript released by Chinese media.

This marks a rare public appearance for Ma, who has been notably affected by the regulatory tightening imposed by the Chinese government on the domestic tech industry. Ant Group’s highly anticipated public listing was abruptly canceled by authorities in late 2020, leading the company to undertake significant business overhauls to comply with regulatory requirements.

Alibaba, the e-commerce giant co-founded by Ma, has also faced increased scrutiny from regulators. The crackdown on the tech sector has posed challenges for many of China’s leading technology firms, but recent signs suggest that regulators are beginning to soften their stance as the Chinese economy navigates ongoing pressures.

As Ant Group prepares for this leadership transition, the company aims to adapt to the developing landscape and capitalize on new opportunities in the market.