Ant Group has announced significant leadership changes, with Cyril Han, the company’s current president and CFO, set to take over the role of CEO from Eric Jing, who will continue to serve as the company’s chair. The leadership shift, which will take effect on March 1, 2025, was revealed on the occasion of the company’s 20th anniversary and the anniversary of its mobile payment platform, Alipay.
Cyril Han joined Ant Group in 2014 and was appointed president in March 2024 following a major company restructuring. Eric Jing, who has served as CEO since 2016, emphasized the importance of the transition, noting that younger leaders are stepping up to take on more strategic responsibilities. In a statement, Jing highlighted that this new generation of leaders brings a fresh perspective and greater strengths to steer the company into the future.
The leadership changes come as Ant Group, a financial arm of Alibaba Group, continues its recovery from a regulatory crackdown that began in late 2020. In 2021, Chinese regulators mandated a restructuring of Ant Group, requiring it to reorganize as a financial holding company to meet new government regulations. This move aimed to sever connections between Alipay and other financial services, while also addressing competition concerns. The company was fined CNY 18.2 billion ($2.5 billion) for anticompetitive practices by China’s competition regulator.
Despite these challenges, Ant Group has remained a key player in China’s digital finance and payments space, with plans for ongoing compliance improvements and adapting to the evolving regulatory landscape. The appointment of Cyril Han as CEO marks a new chapter in Ant Group’s leadership, as it works to navigate the post-regulation era and strengthen its position in the market.
