Alibaba Group Appoints Two Independent Directors with Enhanced Corporate Governance
Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, the “Company”) announces that Irene Yun-Lien Lee, Chairman of Hysan Development Company Limited, and Albert Kong Ping Ng, former Chairman of Ernst & Young China, were appointed as independent directors to the Company’s board, effective August 4, 2022. The new appointments demonstrate the Company’s commitment to corporate governance excellence and diversity at the board level.
Following these appointments, the Company’s board currently consists of twelve directors, including seven independent directors. The number of female board members increases to three.
“I am delighted to welcome Ms. Lee and Mr. Ng to the Alibaba board. The new independent board member appointments are part of Alibaba’s ongoing enhancement of our corporate governance. Irene and Albert are both respected leaders with invaluable understanding and experience in global markets including mainland China and Hong Kong. I believe Alibaba will greatly benefit from their insight, especially in light of our plans for dual-primary listing in Hong Kong to further broaden and diversify our investor base,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group.
“Alibaba is one of the most exciting and innovative companies of this generation and I am honored to become its board member,” said Irene Yun-Lien Lee. “The focus of my career has been to create a deep connection with consumers by curating top of mind physical destinations, where people come to work, shop and play. I am delighted to join Alibaba, with its mission to make it easier to do business with anyone, anywhere.”
“I am thrilled to join the board of a company with such a distinguished combination of Chinese origin and a global vision,” said Albert Ng. “as Alibaba applies to add Hong Kong as another primary listing venue, I hope my experiences in the capital market of Hong Kong and Greater China can be applied to the company's pursuit of excellence.”
Mr. Chee Hwa Tung, an independent director of the Company, will not seek re-election after his current term, which will end at the Company’s annual shareholding meeting to be held later this year. Mr. Tung has served as an independent director on the Company’s board since September 2014.
“We would like to express our most sincere gratitude to Mr. Tung for his invaluable contributions and full support to Alibaba, which exemplified the highest standards of service and commitment,” said Zhang.
About Irene Lee
Irene Lee has been executive chairman of Hysan Development Company Limited, a company listed on the Hong Kong Stock Exchange, since March 2012. Before that she was Hysan’s non-executive chairman from May 2011 to March 2012, and non-executive director from March 2011 to May 2011. Ms. Lee currently serves as the independent non-executive chairman of Hang Seng Bank Limited, a company listed on the Hong Kong Stock Exchange. She also serves as a director of various private and unlisted companies. Previously, Ms. Lee was an executive director of Citicorp Investment Bank Limited in New York, London and Sydney, and head of corporate finance at Commonwealth Bank of Australia and chief executive officer of Sealcorp Holdings Limited, both based in Sydney. In addition, she was until April 2022 an independent director of HSBC Holdings plc, and also previously served as director of a number of public companies. Ms. Lee received a bachelor of arts degree from Smith College, and is barrister-at-law in England and Wales and a member of the Honourable Society of Gray’s Inn, United Kingdom.
About Albert Ng
Albert Ng currently serves as an independent non-executive director and chairman of the audit committee of a number of public companies, including Ping An Insurance (Group) Company of China, Ltd., a company listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, Beijing Airdoc Technology Co., Ltd., a company listed on the Hong Kong Stock Exchange, and China International Capital Corporation Limited, a company listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange. Mr. Ng worked at Ernst & Young China from April 2007 to June 2020, where he was the chairman of Ernst & Young China and a member of Ernst & Young’s Global Executive Board. Prior to joining Ernst & Young, he was Greater China Managing Partner of Arthur Andersen, Managing Partner – China Operation of PricewaterhouseCoopers and Managing Director of Citigroup – China Investment Banking. Mr. Ng is the president of the Hong Kong China Chamber of Commerce. Mr. Ng is also a member of the audit committee of The Chinese University of Hong Kong, Shenzhen, and a council member of the Education Foundation of The Chinese University of Hong Kong, Shenzhen. Mr. Ng is a member of the Hong Kong Institute of Certified Public Accountants (HKICPA), Chartered Accountants of Australia and New Zealand (CAANZ), CPA Australia (CPAA) and Association of Chartered Certified Accountants (ACCA). He received a bachelor’s degree in business administration and a master’s degree in business administration from The Chinese University of Hong Kong.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
+852 9012 5806
+852 5590 9949
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Q4 Inc. Recognized as one of Canada's Top Growing Companies by The Globe and Mail23.9.2022 22:09:00 CEST | Press release
Q4 Inc. (TSX:QFOR), (“Q4” or “the Company”) is pleased to announce their ranking on the 2022 Report on Business of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Q4 Inc. earned its spot with three-year growth of 220%. “We are honored to be recognized as one of Canada’s Top Growing Companies for the third consecutive year by The Globe and Mail,” remarked founder and CEO, Darrell Heaps. “We are extremely proud of the growth we have achieved together as a company and this recognition is a true reflection of the dedication our employees have to helping our clients win in the capital markets.” Canada’s Top Growing Companies is an editorial ranking that was launched in 2019. It aims to celebrate the boldest entrepreneurial achievement by identifying and bringing the accomplishments of innovative businesses in Canada to the forefront. In order to qualify for this voluntary programs; companies had to complete an in-depth ap
PCT International Hires Dynamic CFO23.9.2022 21:40:00 CEST | Press release
PCT International’s continued resurgence in the broadband and telecommunications market received a boost from the hiring of Simit Shah as Chief Financial Officer. With 20 years of domestic and global treasury, capital markets, and corporate finance experience, Shah is excited to showcase PCT’s strength to the market. Shah will influence the evaluation and structuring of financing strategies, leveraging his experience to drive business transformation from his previous roles. Shah holds a B.S. in Chemistry from Villanova University and an M.B.A from the University of Michigan Ross School of Business. “PCT’s 25-year commitment to innovation, made this an easy choice for me to join their robust team in Tempe,” said Shah. In his previous positions, Shah successfully negotiated, structured, and managed multiple financing facilities and strategies, including being an integral member of the team that transitioned the largest publicly traded proprietary education company to a privately held ent
GCCA: Cement and Concrete Industry Scales Up Carbon Capture, Utilisation and Storage (CCUS) Efforts to Accelerate Decarbonisation23.9.2022 18:30:00 CEST | Press release
The Clean Energy Ministerial CCUS (CEM CCUS) and the Global Cement and Concrete Association (GCCA) have today, at the first-ever Global Clean Energy Action Forum (GCEAF), announced an agreement that will help scale up the deployment of carbon capture, utilisation and storage (CCUS) throughout the cement and concrete industry, in a move to stimulate innovation, investment and increase the pace of decarbonisation efforts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220923005359/en/ Major CCUS industry and government collaboration announced at Global Clean Energy Action Forum (GCEAF) in Pittsburgh, USA. Left to right: Thomas Guillot, CEO of the Global Cement and Concrete Association, Henriette Nesheim, Assistant Director General, Norwegian Ministry of Petroleum and Energy – and CEM CCUS Initiative Co-Lead from Norway, Brad Crabtree, Assistant Secretary, Fossil Energy and Carbon Management, US Department of Energy (Photo: Bus
Justin Boxford Appointed Global Brand President, Estée Lauder23.9.2022 15:00:00 CEST | Press release
Today, The Estée Lauder Companies (NYSE:EL) announced that Justin Boxford has been appointed Global Brand President, Estée Lauder, effective September 1, 2022. Justin succeeds Stéphane de La Faverie, whose promotion to Executive Group President was part of an organizational evolution announced last week. In his new role, Justin is reporting to Stéphane and will continue to serve on the company’s Executive Leadership Team (ELT). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220923005308/en/ Justin Boxford appointed Global Brand President, Estée Lauder; photo courtesy of Kevin Trageser. As Global Brand President, Justin will be responsible for driving Estée Lauder’s short- and long-term strategy, including innovation, product development, North America and international growth, consumer marketing and distribution evolution. He will partner closely with members of the global Estée Lauder leadership team to drive the brand’s su
XPENG G9 Equipped with Dual Automotive-Grade LiDAR Sensors from RoboSense23.9.2022 14:00:00 CEST | Press release
RoboSense, a world-leading provider of Smart LiDAR Sensor Systems announced XPENG G9 equipped with two RoboSense second-generation Smart Solid-state LiDARs (RS-LiDAR-M1). On September 21, XPENG Motors held the “G9 Flagship SUV Immersive Experience” online launch event and officially launched XPENG G9. XPENG G9 is positioned as “the world’s Fastest-Charging electric SUV”. It achieved a breakthrough and went going from development of “independent functions” to “global intelligence”. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220923005230/en/ XPENG G9 equipped with two RoboSense second-generation smart solid-state LiDARs, to realize full-scenario intelligent driver assistance. (Graphic: Business Wire) G9 further demonstrates XPENG’s innovation in the field of intelligence. From the early functions of autonomous parking, voice control to driver assistance, G9 uses XPENG’s second-generation ADAS, XNGP, equipped with two RoboS