Alibaba Group Holding Limited announced 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…
Alibaba Group Holding Limited announced that Toby Xu, Deputy Chief Financial Officer, will succeed Maggie Wu as the Company’s Chief Financial Officer, effective April 1, 2022. Maggie will continue as a partner in the Alibaba Partnership and serve as an executive director on the Alibaba board, the statement said. “Maggie has made exceptional contributions that…
Chinese e-commerce giant Alibaba Group announced that it will invest approximately $3.6 billion in respect of Sun Art Retail Group Limited, a leading hypermarket and supermarket operator in China. As part of the transaction, Alibaba will acquire 70.94% of equity interest in A-RT Retail Holdings Limited from Auchan Retail International S.A. and its subsidiary (Auchan…
Alibaba Group and the municipal government of Yiwu, Zhejiang Province in China, have announced plans to develop a Digitized Comprehensive Bonded Zone under the eWTP (electronic World Trade Platform) framework, making cross-border e-commerce more accessible to small and medium-sized enterprises (SMEs) at the world’s largest wholesale market. A core part of the new initiatives is…
Alibaba’s co-founder and executive chairman, Jack Ma will retire from the e-commerce giant he founded in 1999, according to New York Times. He plans to pursue philanthropy in education post his retirement. Jack Ma, was a former English teacher at the Hangzhou Institute of Electrical Engineering and has always been known to his commitment to…