Ant Group changes top management at Alipay corporate entity in latest restructuring move
- In 2020, Eric Jing took over the legal representative position at Alipay.com Co from Lucy Peng Lei, a billionaire businesswoman who was a founding member of Alibaba
- The move comes a week after Alibaba said all top executives of Ant had resigned from its partnership structure, seen as a sign of further partitioning between the two
Ant Group has implemented another top management change at its major corporate entity, two months after the Chinese fintech giant made a separate move to exit the Alibaba Group Holding partnership, according to a person familiar with the matter.
Eric Jing Xiandong, Ant Group chairman, will relinquish his role as legal representative and chairman of Alipay.com Co, a major corporate entity of Ant Group, the person said. Taking his place will be Ni Xingjun, Ant’s chief technology officer (CTO) and a founding team member at Alipay, the person added.
“This is a standard corporate governance practice and is a move that aligns with our business operations,” said an Alipay spokeswoman on Tuesday.
In 2020, Jing took over the legal representative position at Alipay.com Co from Lucy Peng Lei, a billionaire businesswoman who was a founding member of Alibaba, according to Tianyancha, a commercial database of public company records.
Alipay.com Co, the corporate entity that holds Alipay’s payment licence, was founded in 2004 and has since provided payment technology services to thousands of merchants and institutions. Ant controls another major entity called Alipay (Hangzhou) Information Technology Co Ltd, focusing on Ant’s business related to internet services.