– CHINA, Hangzhou – Alibaba Group Holding Limited (NYSE: BABA | HKEX: 9988) today announced the appointment of Weijian Shan, executive chairman of investment group PAG, to its Board as an Independent Director, effective March 31, 2022.
Weijian Shan will also join the audit committee.
Concurrently, Börje Ekholm, President, and CEO of the Ericsson Group will retire from the board on March 31, 2022.
About Weijian Shan
Weijian Shan is the executive chairman and a founder of PAG – one of Asia’s leading independent alternative investment management groups with more than US$50 billion in capital under management by March 2022. He became PAG’s chairman and CEO and founded its private equity business in 2010. Between 1998 and 2010, he was a managing partner of the private equity firm Newbridge Capital (now known as TPG Asia) and a partner of TPG. Shan was a managing director of JP Morgan, where he was concurrently the chief representative for China between 1993 and 1998. He was an assistant professor of management at the Wharton School, the University of Pennsylvania between 1987 and 1993. He also worked at the World Bank in 1987 as a member of its Young Professionals Program.
Shan is a member of the International Advisory Council of Hong Kong Exchanges and Clearing Limited. He served as an independent director of Singapore-listed Wilmar International Limited between 2018 and 2021.
Shan is an author and occasional commentator. His books include Money Games: The Inside Story of How American Dealmakers Saved Korea’s Most Iconic Bank (Wiley, 2020) and Out of the Gobi: My Story of China and America (Wiley, 2019), which are also available in Chinese and Japanese, in addition to English.
“I have been deeply impressed with the growth and achievements of Alibaba, and with how it has positively changed the lives of so many consumers and businesses in China and elsewhere. It served about 1 billion consumers in China and 300 million around the world in 2021 alone. I feel honored to be invited by the board to serve as an independent director. I look forward to contributing the little I know to help the Company achieve its long-term goals,” said Weijian Shan.
Shan holds an M.A. and a Ph.D. from the University of California, Berkeley, and an M.B.A. from the University of San Francisco. He graduated with a major in English from the Beijing Institute of Foreign Trade (currently the Beijing University of International Business and Economics).
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.
For more information: https://www.alibabagroup.com/en
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