Alibaba-backed Ant Group has appointed Xpeng chairman and chief executive officer He Xiaopeng as an independent director following a reshuffle of its board, according to information published by the company.
The changes were disclosed on June 22 and also include the appointments of Bai Chongen, dean of Tsinghua University’s School of Economics and Management, and Tsang Shun-fu, former chief executive officer of Deloitte China.
Board Maintains Nine-Member Structure
Following the appointments, Ant Group’s board remains composed of nine members, with independent directors accounting for more than half of the seats.
Existing independent directors Laura Cha, former chairman of Hong Kong Exchanges and Clearing, and artificial intelligence researcher Zhang Hongjiang will remain on the board.
According to local media reports, the independent directors will participate in advising and overseeing Ant Group’s artificial intelligence strategy at the board level.
He Xiaopeng’s Longstanding Alibaba Connections
The appointment marks a return to the broader Alibaba ecosystem for He Xiaopeng, who has longstanding ties to the Chinese technology group.
Ant Group originated from Alipay, the online payments platform developed within Alibaba’s ecosystem. Alibaba remains one of Ant’s largest shareholders through affiliated entities.
Before founding and leading Xpeng, He co-founded UCWeb, the developer of UC Browser. Alibaba acquired UCWeb in 2014 in a transaction valued at approximately $4.35 billion.
Following the acquisition, He joined Alibaba and held several senior positions, including President of Alibaba’s Mobile Business Group and Chairman of Alibaba Games.
He left Alibaba in 2017 to focus on Xpeng full-time.
Relationship Between Alibaba and Xpeng Evolves
Alibaba later became a major investor in Xpeng. At the time of the electric vehicle maker’s U.S. listing in 2020, Alibaba’s Taobao China entity held a 14.4% stake, making it one of the company’s largest outside shareholders.
In recent years, however, Alibaba has gradually reduced its ownership position in Xpeng, while several Alibaba representatives have stepped down from the automaker’s board.
Despite the reduced shareholding, Alibaba has previously stated that it intends to continue supporting Xpeng through cloud computing and artificial intelligence infrastructure services.
Growing Focus on Artificial Intelligence
The appointment comes as Ant Group increases its focus on artificial intelligence and digital technologies.
He Xiaopeng has been closely associated with AI-driven vehicle technologies through Xpeng’s work in autonomous driving, intelligent vehicle software, and advanced driver-assistance systems.
His experience in integrating AI into automotive products may provide additional expertise as Ant Group continues to expand its AI-related initiatives.
The board changes also strengthen the presence of independent directors at the company, reflecting Ant’s ongoing efforts to enhance corporate governance while expanding into new technology sectors.