Alibaba Group Appoints Two Independent Directors with Enhanced Corporate Governance
15.9.2022 02:43:00 EEST | Business Wire | Press release
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220803006055/en/
Contact information
Media Contacts
Cathy Yan
Alibaba Group
+852 9012 5806
cathy.yan@alibaba-inc.com
Ivy Ke
Alibaba Group
+852 5590 9949
ivy.ke@alibaba-inc.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
Kingswood Capital Management Raises $4 Billion Across Two Oversubscribed Middle-Market Funds30.7.2026 18:00:00 EEST | Press release
Kingswood Capital Management, L.P. (together with its affiliates, “Kingswood”), a Los Angeles-based investment firm focused on the middle-market, today announced the final closing of Kingswood Capital Opportunities Fund IV, L.P. (together with its parallel fund, “Fund IV”), with total capital commitments of $3.1 billion, as well as Kingswood Capital Opportunities Small Cap Fund I, L.P. (together with its parallel fund, “Small Cap Fund I”), with total capital commitments of $900 million. These funds more than double Kingswood’s total assets under management (“AUM”) to over $7 billion. Fund IV represents the fourth institutional fundraise in five years for Kingswood and is more than double the size of Fund III. Both Fund IV and the inaugural Small Cap Fund I were significantly oversubscribed in just five weeks. Fund IV exceeded its initial target of $2.25 billion, while Small Cap Fund I exceeded its initial target of $550 million and both closed at their hard caps. The successful fundrai
CyrusOne Names John Hatem Chief Executive Officer to Accelerate its Global Digital Infrastructure Strategy30.7.2026 16:30:00 EEST | Press release
CyrusOne (the “Company”), a leading global data center owner, developer and operator, today announced the appointment of John Hatem as Chief Executive Officer and a member of the Company’s Board, effective immediately. As part of the Company’s long-term succession planning, Eric Schwartz, who successfully led CyrusOne through a period of significant expansion, is stepping down as CEO and will work together with Hatem to ensure a smooth transition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260730005910/en/ John Hatem Hatem joined CyrusOne in 2011 and has held a series of increasingly senior roles across the business. He most recently served as President, responsible for global sales, global procurement, and design, engineering, and construction in the United States. His deep experience in data center design, development, and operations has helped transform CyrusOne into one of the world’s leading digital infrastructure p
Mary Kay Releases 2026 Sustainability Report Highlighting Transformative Progress Across Social, Economic, and Environmental Impact Globally30.7.2026 15:03:00 EEST | Press release
Mary Kay Inc., a leading global beauty company committed to sustainability and women’s empowerment, today released its 2026 Sustainability Report, outlining progress toward its 2030 goals and celebrating the 2025 and latest achievements that continue to drive positive change globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260730240667/en/ Mary Kay's annual 2026 Sustainability Report highlights the company's decades-long dedication to social, economic, and environmental sustainability - core pillars central to its business strategy and its purpose-driven legacy rooted in Mary Kay's mission of “enriching women’s lives” around the world. (Image Credit: Mary Kay Inc.) The annual report highlights Mary Kay’s decades-long dedication to social, economic, and environmental sustainability - core pillars central to its business strategy and its purpose-driven legacy rooted in the company’s mission of “enriching women’s lives”
Veracode Launches “Veracode Marketplace”: A Curated Ecosystem of Elite Security Integrations Built for the AI-Powered Software Development Era30.7.2026 15:00:00 EEST | Press release
Veracode, the global leader in application risk management, today announced the launch of the Veracode Marketplace, a curated ecosystem that gives customers a single, trusted destination to discover, evaluate, and deploy third-party security integrations as an extension of the Veracode platform. The marketplace debuts with DryRun Security as its inaugural partner, delivering AI-native contextual analysis and verification to Veracode customers on day one. A New Standard for the AppSec Ecosystem The Veracode Marketplace enables security and engineering teams to extend their existing Veracode investment with validated, best-in-class integrations. Every partner is vetted for technical depth, product quality, and workflow fit. Integrations are anchored to Veracode findings for a unified audit trail, and every purchase goes through a single procurement path on a single contract, with a personalized support experience. “Application security has entered a new era, and no single vendor will sol
INNIO Awarded EcoVadis Platinum Medal for Fifth Consecutive Year30.7.2026 15:00:00 EEST | Press release
INNIO N.V. (Nasdaq: INIO) has been awarded the EcoVadis Platinum Medal, the highest recognition granted by the globally trusted provider of business sustainability ratings. This marks the fifth consecutive year that INNIO has achieved Platinum status since 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260730309718/en/ INNIO N.V. Awarded EcoVadis Platinum Medal for Fifth Consecutive Year In the latest assessment cycle, INNIO further improved its overall EcoVadis score compared to the previous year by introducing additional policies and further strengthening its sustainability management system. “This recognition is a strong validation of our sustainability strategy,” said Marcin Kawa, Vice President Sustainability at INNIO. “Achieving EcoVadis Platinum status for the fifth consecutive year shows that we have consistently delivered on our sustainability commitments and embedded responsible business practices throughout
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom