Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
04/15/2025
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
July 10, 2023: On Friday, China’s central bank beat Alibaba fellow Ant Group with a 7.12 billion yuan penalty.
The People’s Bank of China, which issued the penalty, said that the penalty was in response to different rules and regulations violations, including corporate control, consumer protection, and anti-money laundering requirements.
The fine is one of the largest against a Chinese internet firm. It looks to conclude the years-long scrutiny and restructuring of Ant Group after its blockbuster $37 billion initial general offering was scrapped in late 2020.
Ant has been forced to overhaul its business since that moment, which sparked an intense two-year crackdown from Beijing on China’s domestic tech sector. This included turning itself into a financial holding company under the purview of the PBOC.
Alibaba owns around a 33% stake in Ant Group, and Chinese billionaire Jack Ma is the founder of both companies.
Authorities canceled Ant’s listing over regulatory concerns in 2020.
Recent signs have emerged that Ant has been on the right side of regulators. In January, the group received approval to expand its consumer finance business.
The satisfactory and potential resolution to Ant’s regulatory woes comes as China looks to inject life into private industry amid a complex domestic economic picture.
In its Friday statement, the PBOC stated that most of the problems in the financial business of so-called platform businesses, such as Ant Group, have been rectified. The central bank’s job is now “normalized supervision,” suggesting that strict measures like fines may be calming down.
On Friday, Ant Group said in a statement that it will “suit with the terms of the penalty in all earnestness and sincerity and continue to enhance our compliance governance further.”
A possible listing for Ant Group is likely now in the spotlight, although the company’s valuation has dropped significantly over the last two and a half years.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
The leadership landscape is profoundly changing, influenced by technological advancements, shifting workforce expectations, and the need for adaptability in an unpredictable global environment.
In the fast-paced business world, corporate leaders often find themselves at the crossroads of risk and reward, where bold decisions …
April 24, 2025: Silicon Valley is experiencing a sharp recalibration in artificial intelligence investment, with signs of AI fatigue emerging across venture capital
April 23, 2025: The Canadian government has introduced new legislation to regulate the use of artificial intelligence in education and healthcare, focusing on accountability,
April 17, 2025: Prime Minister Justin Trudeau s government is under growing political pressure over its current immigration strategy.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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