“With Jack serving his full term today, I will also leave as a board member of Alibaba,” Son said, adding that the decision was effective Thursday.
“It’s not because I have lost hope (in Alibaba) or that we had a fight or anything like that. Jack will graduate from us, so I should also graduate as an Alibaba board member. On the same day, effective today, I wished to retire from the board of Alibaba,” Son said.
Son famously invested $20 million in Alibaba in 2000. As of Wednesday, Son said SoftBank held a stake worth 16.2-trillion-yen ($151 billion) in Alibaba.
“For us, Alibaba remains the largest share asset,” Son said.