Published On: Mon, Sep 20th, 2010

Chinese E-Commerce Giant, Alibaba Group Turned Down The Suggestion Of Yahoo CEO

BEIJING:– On Sunday Alibaba Group, Chinese e-commerce giant, while replying that Bartz should focus on improving Yahoo’s own business first, turned down the suggestion by Yahoo chief executive officer Carol Bartz that she be allowed to join the board of Alibaba.

Chief marketing officer of Taobao.com, Wang Shuai said that since she became CEO of Yahoo in January 2009, he has been “perplexed” by Bartz’s decisions saying: “They demonstrate a lack of appreciation of the Internet, the mainland market and business partners.” Wang asserted: “Perhaps it would not be a bad idea for her to concentrate her efforts on improving Yahoo’s current situation”, in response to Bartz’s suggestion that she join the board of Alibaba.

On Friday, a day after the Chinese Internet company said Yahoo had rejected its offer to sell the stake back to the group; Bartz touted Yahoo’s 39 percent investment in Alibaba. While Alibaba’s online shopping and payment subsidiaries go public, the 62-year old executive said the ideal time for Yahoo to exit from Alibaba will after Taobao.com and Alipay.com. She added that when Yahoo gets a second seat on the board under its 2005 agreement with the company, she will “probably” join the company’s board later this year.

On Sunday Wang asserted that Alibaba had no plans for Taobao.com to go for the public. In 2005 for $1billion and ownership of Yahoo China, Alibaba sold a 39 percent stake in the company to Yahoo. Recently when Bartz replaced Yahoo’s co-founder, Jerry Yang, to become chief executive of the company, the relationship between the two companies has been deteriorating.