Ant Group founder Jack Ma to give up control in key revamp

Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. The wait is two years on Shanghai's Nasdaq-style STAR market, and one year in Hong Kong. It currently has eight board directors. Since then, his sprawling empire has been under regulatory scrutiny and going through a restructuring.