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Alibaba appoints two independent directors as it seeks Hong Kong primary listing
- Alibaba has named two new independent directors, Albert Ng Kong-ping and Irene Lee Yun-lien, bringing the number of women on the board to three
- The move comes as the e-commerce giant seeks to elevate its status on the Hong Kong bourse, broadening its access to mainland investors
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Alibaba Group Holding has increased the representation of women and independent directors on its board, after adding two directors ahead of its application to make Hong Kong the primary listing venue of its stock.
Irene Lee Yun-lien, chairwoman of Hysan Development Company Limited, and Albert Ng Kong-ping, former chairman of Ernst & Young China, were appointed to Alibaba’s board, effective on Thursday, according to a company statement.
“Irene and Albert are both respected leaders with invaluable understanding and experience in global markets including mainland China and Hong Kong,” Daniel Zhang Yong, chairman and chief executive officer of Alibaba, said in a statement. “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.”
Alibaba owns the South China Morning Post.
Lee’s appointment brings the number of female Alibaba board members to three. The move is a nod to the push since January by Hong Kong Exchanges and Clearing Limited (HKEX) for public companies to enhance their gender equity and representation, especially at the executive and senior management tiers.
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