Alibaba cofounder Jack Ma has written a rare memo to his employees, offering words of motivation and recognition. In the letter, he reflected on past mistakes and praised the new chief executive Eddie Wu and Chairman Joe Tsai for their bravery and leadership in the face of doubts and pressures facing the company.
The memo, which was reported by Reuters as being the longest from Ma in five years, comes at a crucial time for Alibaba. The company underwent significant changes in 2023, dividing into six new groups and appointing Wu as CEO. Ma commended the restructuring efforts but also emphasized the importance of addressing past issues and making reforms for the future.
Alibaba has faced challenges in recent years, including government scrutiny, antitrust fines, and competition from rivals in the e-commerce sector. Ma emphasized the need to correct past mistakes and move forward with courage. Despite facing tough competition, Ma has shown resilience in the face of challenges.
Reflecting on the changing landscape of Chinese e-commerce, Ma congratulated a competitor for surpassing Alibaba in market value. Ma’s shift from plans to sell his shares in Alibaba to buying more shares demonstrates his confidence in the company’s future. With a renewed focus and determination, Alibaba under the leadership of Eddie Wu and Joe Tsai looks set to overcome past challenges and thrive in the evolving marketplace.
