Simon Hu resigns as Ant Group CEO following regulatory crackdown

Simon Hu has resigned as chief executive officer of Ant Group, months after the digital payments company was forced to pull its IPO amid a crackdown by Chinese regulators.

"The Ant Group Board of Directors has accepted Mr. Simon Hu's resignation request, due to personal reasons," said a spokesperson for the Alibaba (BABA) affiliate. "We are thankful to Simon for the efforts he made at our company," the spokesperson added.