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It also further enhances our control over the VIEs through contractual arrangements at each layer of ownership.This is very much aligned with our spirit and goal of building a company and culture that will outlast any individual person.Chairman of e-commerce giant Alibaba, Jack Ma expected to visit Ethiopia in November.Ethiopia ambassador to China Teshome Toga on his Twitter page said that the chairman would visit Ethiopia at the invitation of Ethiopian Prime Minister Abiy Ahmed.Right now, we have 36 partners, though there is no set amount or limit on the number of partners. We regularly get fresh blood and ideas and energy, with new partners admitted to the partnership each year, as others step down.
We cemented our commitment to partnership in July 2010, formalizing our partnership.In an exclusive, wide-ranging interview with Corp Gov, Alibaba Investor Relations Head Rob Lin explains how the company recently refreshed its governance structure to reduce reliance on a small number individuals and also depends on stewardship by the Alibaba Partnership, a diverse group that currently consists of 36 people.And while the company is focused on growth and profits, Alibaba is also committed to environment, social, and governance (ESG) values that need not be mutually exclusive with shareholder returns. S.-listed Alibaba shares don’t actually own a stake in the Chinese company, but rather in a Cayman Islands-based holding company that has a claim on the profits of Alibaba.Previously, our VIEs were held by a few individuals.Upon completion of this enhancement process, each VIE will be held by a limited liability company, which in turn will be held indirectly (through a layer of limited partnerships) by selected members of the Alibaba Partnership or our management who are PRC citizens.