Alibaba's Partnership Is One-Third Female
NEW YORK (TheStreet) - Alibaba, on Monday, pulled back the curtain on its unique partnership structure and one figure stands out among the 27 people named as the culture carriers of China's largest e-commerce company: one-third of Alibaba's partners are female.
That figure indicates Alibaba is doing better than Silicon Valley peers such as Amazon
Female partners of the firm include Trudy Shan Dai, chief customer officer, Fang Jiang, VP of corporate integrity and human resources, Lucy Lei Peng, chief people officer and CEO of small and micro financial services, Sabrina Yijie Peng, VP of international and small and micro financial services, Judy Wenhong Tong, COO of China smart logistics, Sophie Minzhi Wu, president of Alibaba.com and 1688.com, Maggie Wei Wu, CFO, Sara Siying Yu, associate general counsel in China, and, Yu Zhang, VP of corporate development.
Those partners indicate that Alibaba has a strong female presence within its executive ranks and is a stark contrast to China's male-dominated political and corporate culture. Alibaba's one-third female partnership may also underscore that the company's corporate governance policies are closer in-line with U.S. standards than many may have expected.
Partnership Drives U.S. Listing
Alibaba decided to list its shares in the U.S. because of a spat the company had with Hong Kong regulators, who would not allow the company to list its shares with a special partnership structure. Many U.S. financial pundits took that ruling and Alibaba's decision to list in New York as reason to believe the company would list its shares with a dual class stock structure, giving insiders different voting rights than ordinary shareholders.
While recently IPO'ed Chinese companies such as JD.com
"Unlike dual-class ownership structures that employ a high-vote class of shares to concentrate control in a few founders, our approach is designed to embody the vision of a large group of management partners. This structure is our solution for preserving the culture shaped by our founders while at the same time accounting for the fact that founders will inevitably retire from the company," Alibaba states in its F-1 filing with the Securities and Exchange Commission .
On Monday, the company revealed it only nominated four partners to its nine-member board of directors.
Alibaba's Board of Directors
Alibaba said its board would consist of founder Jack Ma, executive vice chairman Joseph Tsai, SoftBank CEO Masayoshi Son, Alibaba CEO Jonathan Zhaoxi Lu, COO Daniel Yonhg Zhang, Chee Hwa Tung, vice chairman of the Twelfth National Committee of the Chinese People's Political Consultative Conference of the PRC, former KPMG executive Walter Teh Ming Kwauk, Michael Evans, and Yahoo!