|By Business Wire||
|December 4, 2012 11:26 PM EST||
Alibaba Group Holdings Limited, China’s largest e-commerce company, today announced that Yahoo! Inc.’s Jacqueline D. Reses has joined Alibaba Group’s board of directors. Reses joins Jack Ma, Masayoshi Son and Joe Tsai as one of four directors on the Alibaba board.
“I’m honored to be a part of Alibaba’s distinguished board,” said Reses. “Jack and the team have built a strong business that has changed the e-commerce landscape in China. I look forward to working closely with them as Alibaba continues to innovate and grow.”
“Today’s announcement underscores Alibaba’s strong relationship with Yahoo!,” said Jack Ma, chairman and chief executive officer of Alibaba Group. “We are pleased to welcome such an experienced and respected executive like Jackie, who brings a wealth of strategic insight and operating experience to the Alibaba board.”
Reses is executive vice president of people and development at Yahoo!, where she is responsible for leading corporate and business development, and human resources and talent acquisition globally. She has more than two decades of experience building world-class technology and media teams, and she has served on a number of boards of directors. Reses led the U.S. media group at Apax Partners where she made some of the firm’s most significant investments in media companies. Previously, she served as CEO of iBuilding Inc. and spent seven years at Goldman Sachs in mergers and acquisitions and the principal investment area.
Yahoo! owns approximately 23 percent of Alibaba Group common stock on a fully diluted basis.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. Since it was founded in 1999, the China-based Alibaba Group has developed leading businesses in consumer e-commerce, online payment, business-to-business marketplaces and cloud computing. Alibaba Group operates Taobao Marketplace (www.taobao.com), China's most popular online shopping destination; Tmall.com (www.tmall.com), China’s leading online platform for merchants offering quality, brand-name goods to consumers; eTao (www.etao.com), a comprehensive shopping search engine; Alibaba.com International (www.alibaba.com) and Alibaba.com China (www.alibaba.cn), leading business-to-business marketplaces for small businesses engaged in international trade and domestic China trade, respectively; and Alibaba Cloud Computing (www.aliyun.com), a developer of platforms for cloud computing, data management and mobile services. Alipay (www.alipay.com), the most widely-used online payment service by consumers and merchants in China, is an affiliate of Alibaba Group.