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Alibaba Group appointed two new independent directors, increasing the number of women to three

via:凤凰网     time:2022/8/4 10:01:05     readed:58

Alibaba Group Holding LTD announced on August 4 that IT has appointed Li Yunlian, Executive Chairman of Hysan Industrial Group LTD, and Wu Gangping, former Chairman of Ernst & Young China, as independent directors of the group's board of Directors, effective August 4, 2022. With this appointment, the board of directors of Alibaba Group has a total of 12 directors, of which 7 are independent directors, and the number of female directors has increased to 3.

"We are honored to welcome Ms. Li and Mr. Wu to our Board of Directors," said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. The appointment of the new independent directors is another step in our ongoing efforts to improve corporate governance. Both Ms Leigh and Mr Ng are highly respected business leaders with valuable and deep expertise and experience in global markets, including mainland China and Hong Kong. I believe their market insights will be of great benefit to the Group in the future, especially as we have just announced plans to pursue a dual primary listing in Hong Kong, which will help us further expand and enrich our investor base."

In addition, Alibaba Group's independent director Tung Chee-hwa's term expires after this year's shareholders' meeting and he will not run for re-election. Tung Chee-hwa has been an independent director of Alibaba Group since September 2014.

It is understood that Li Yunlian has been the executive chairman of Hysan Industrial Limited, which is listed on the Hong Kong Stock Exchange of China since March 2012. Previously she served as non-Executive Chairman of Hysan Societe Generale from May 2011 to March 2012 and as a non-executive director from March 2011 to May 2011. She is the independent non-Executive Chairman of Hang Seng Bank Limited, which is listed on the Hong Kong Stock Exchange of China. She also serves as a director of several private and unlisted companies.

She has served as Executive Director of Citibank in New York, London and Sydney, as corporate Treasurer of Commonwealth Bank of Australia in Sydney and as Chief Executive Officer of Sealcorp Holdings Limited in Sydney. In addition, she served as an independent director of HSBC Holdings PLC until April 2022 and has served as a director of a number of listed companies.

Mr. Wu is currently an independent non-executive director and Chairman of the audit Committee of a number of listed companies, including Ping An Insurance (Group) Co., LTD., which is listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, Beijing Yingtong Technology Development Co., LTD., which is listed on the Hong Kong Stock Exchange, And China International Capital Corporation, which is listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange.

Gangping Wu worked at Ernst & Young from April 2007 to June 2020, serving as Chairman of Ernst & Young China and a member of Ernst & Young's Global Management Board. Prior to Ernst & Young, he was Managing Partner for Greater China at Arthur Andersen, Managing Partner for China at Pricewaterhousecoopers, and Managing Director for China Investment Banking at Citigroup. Wu Gangping is president of the Chinese Chamber of Commerce in Hong Kong.

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