Taobao President - Chiang Fan: Losing everything because of adultery and a warning

After being criticized by his wife for his shady relationship with China's top hotgirl Truong Dai Dich, Jiang Fan was investigated and publicly disciplined by Alibaba Group. Accordingly, on April 27, the representative of Alibaba said that in addition to the removal of the partner status and demotion, Jiang Fan also had all benefits and rewards in the previous financial year canceled.

Jiang Fan - Alibaba's star has just 'turned off' in the morning?

Jiang Fan was born in 1985, used to work for Google. Since 2013, Jiang Fan has been working for Alibaba Group and has progressed rapidly. He used to be the chairman of two large e-commerce companies, Taobao since December 2017 and Tmall from March 2019, under Alibaba Group. At the head of Alibaba's two largest e-commerce companies, Mr. Chiang is by default the brightest "talented young man" in the company. Maybe even become the successor CEO Daniel Zhang - who is leading Alibaba after co-founder Jack Ma "retired" last year.

Alibaba set up a partnership system in 2010 to manage the company more effectively in the future, avoiding one person manipulating all the power. Currently, this group of partners has 38 people, including Jack Ma, CEO Daniel Zhang and vice president Thai Sung Tin. The rest of the characters are senior executives who have worked for at least 5 years at Alibaba or allied companies like Ant Financial and of course they have proven their abilities.

This group of partners has the power to promote the "backbone" part of the Alibaba board. In other words, at any time the company's key figures can have a significant impact on board members.

In April 2020, the affair of President Tabao - Tuong Fan with the famous hot girl Truong Dai Dich suddenly "exploded" a shock in the media. Dong Hoa Hoa - the official wife of Tuong Pham even had to post a direct ban on the minor tam not to continue this out-of-the-way relationship. "This is the first and last time I warn you. If you continue to sneak around with my husband, I will not respect. This old lady is not an ordinary person," Dong Hoa Hoa, wife written by the president of Taobao.

On Weibo, Dong Hoa Hoa deleted all photos related to her husband's affair and left only a few personal photos that sparked information that the two were preparing for a divorce.

It is known that Tuong Pham and Dong Hoa Hoa lived together since they were dating and had their first son in 2013. By 2015, both decided to get married. Three years later, they happily welcomed their youngest daughter, born in Hong Kong.

Meanwhile, Truong Dai Dich, born in 1988, is a model - a hot girl who has a great influence on young people in the country of billions of people, with 11.6 million followers on Weibo. In 2014, the beauty opened an online clothing store on Taobao and became an "e-commerce queen" in China, but she was also heavily criticized for the "small three" scandal. When the adultery information was revealed, she was exposed to unusually large breasts, causing many netizens to suspect that this "little tam" was pregnant. After the noise, Dai Dich's clothing store is making more and more money, the business of hot girl 9X is more smooth and known by many people.

Hard career

Sohu page reported, on June 15, 2020, Jiang Fan submitted his resignation from a senior executive position at a subsidiary of Alibaba group. Netizens speculated that this was a new disciplinary measure for Jiang Fan.

In the following days, Jack Ma often expressed his attitude of still using Jiang Fan, who was considered a good candidate in the race to find his successor. However, on June 15, Chinese media suddenly reported that the legal representative of Hangzhou Medical Co., Ltd., Jiang Fan, had resigned, and he no longer held the position of Chairman and General Director. of this company. It is known that Hangzhou Medical Co., Ltd. is a subsidiary acquired by Alibaba in February 2020.

In response, the Alibaba representative said, this resignation has a normal change after finishing the process of acquiring a company.

But, despite being demoted many times, Jiang Fan is still Vice Chairman of Alibaba Group and still holds key positions in Alibaba Group. However, the prestige of the man born in 1985 is no longer the same, many people predict that the "collapse" date of Chiang Fan is not far away.

Alibaba's internal investigation found that Jiang Fan did not commit any nefarious acts related to the Ruhnn company co-founded by the "rumored girlfriend", but the improper handling of personal issues "has raised concerns". crisis in public opinion and have a dramatic impact on the company's reputation," according to an internal Alibaba memo.

As a result, Mr. Chiang was removed from the group of 38 Alibaba partners, demoted from senior vice president to vice president, cut all bonuses in the past 1 year.

Alibaba's tough approach can be harsh, but it makes shareholders happy. Professor Joseph Fan from the Chinese University of Hong Kong, analyzed: "For decentralized Chinese companies like Alibaba, Huawei, Lenovo or Vanke... the current challenge is how to properly divide the benefits and responsibility for the next generation of leaders.For example, Alibaba's corporate governance model [includes a group of 38 partners] But at the same time, it is still necessary to maintain a level of efficiency and balance in the business. internal".

Thereby, the removal of Tuong Pham from the group of 38 partners is "a positive signal" for shareholders, showing that "the governance system has begun to work to eliminate immediate mistakes, promote the the success of leading the group in the future," said Professor Fan.

Analysts all said that the scandal could be a tragedy for Jiang Fan's career, but for Alibaba, it is just an unnecessary scandal. "The sanctions have shown that Jiang Fan is no longer the 'crown prince' inheriting the throne of Alibaba. It is indeed a pity for him, but this person is not irreplaceable. And I do not believes that Alibaba will be negatively impacted in the long run," said Ming Lu, an investment analyst from Aequitas Research.

In short, Jiang Fan fell a very painful blow after the recent affair scandal, in an instant his glorious career was shaken to its roots.

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