Alibaba founder Jack Ma is stepping down from SoftBank’s board after 13 years, the latest in a string of high-profile departures from the Japanese technology group that is headed for a historic loss.
The resignation of Mr Ma follows the departure of outspoken critics of SoftBank founder Masayoshi Son’s pivot towards a $100bn investment fund, including Fast Retailing chief executive Tadashi Yanai.
SoftBank is expected to report a $12.5bn annual operating loss — its biggest ever — when it publishes results later on Monday, as the market turmoil caused by the coronavirus outbreak wreaked havoc on some of the biggest bets made by its Saudi-backed technology fund.
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