Media reports suggest that his resignation will be effective on June 25 Jack Ma, philanthropist and founder of Alibaba Group, has reportedly stepped down from the board of SoftBank. The Tokyo-based company announced the news of Ma’s departure on Monday. Media reports suggest that his resignation will be effective on the day of SoftBank Group’s annual shareholder meeting, June 25. The company has, however, has not clarified the reason behind Ma’s resignation. Last year, he had also stepped down as chairman of Alibaba to focus more on philanthropic endeavours. Ma is a close ally of SoftBank CEO Masayoshi Son and had been serving on the board for the last 13 years.