The executive resigned on May 1, 2021, with a confirmation forthcoming from Ali's public relations department.
On May 12, 2021, Chi Fan, one of the famous vice presidents of Alibaba, resigned. He joined the Ali Group in December 2010 and mainly responsible for Alipay's Alipay App's operation and product development.
In June 2015, Ali and Ant Financial services jointly established WOM, and Chi Fan was served as CEO of WOM. Chi's reputation in Alibaba Group has constantly been improving during the time and is known as one of Ali's new retail business leaders. In October 2018, Alibaba merged WOM with the acquired company, and Chi Fan then began serving as vice president of the Alibaba group, remaining in place till this year. In 2019, Chi Fan was transferred to Alibaba Digital Media and Entertainment Group to be responsible for OTT and sports business.
On April 30, 2021, Alibaba Group froze executive salary increases while giving ordinary employees more salary bonuses to retain talents. According to a familiar company, hundreds of Alibaba's top executives will not be entitled to a pay hike this year unless they perform exceptionally well.
According to Alibaba, talents are the most important asset of the group. Having a sound and competitive compensation system reflects the company's priorities in training the next generation of talents.