- The fintech giant appointed three new independent directors, lifting their representation to a majority on the nine-member board
- Xpeng founder He Xiaopeng brings deep ties to Alibaba and experience spanning AI, autonomous driving and global expansion
Ant Group, one of China’s largest fintech giants, has completed a board reshuffle, appointing EV maker Xpeng’s Chairman and CEO He Xiaopeng (何小鹏), Tsinghua University economist Bai Chong’en (白重恩) and former Deloitte China CEO Tsang Shun-fook (曾顺福) as new independent directors.
Former Hong Kong Exchanges & Clearing Chairwoman Laura Cha Shih May-lung (史美伦) and prominent AI researcher Zhang Hongjiang (张宏江) will remain on the board as independent directors, alongside Ant’s chairman Eric Jing Xiandong (井贤栋), executive directors Han Xinyi (韩歆毅) and Joe Tsai (蔡崇信) as well as Xu Hong (徐宏), non-executive director and Alibaba Group CFO.
Following the changes, Ant’s board will continue to comprise nine members, with independent directors increasing to five seats, representing more than half of the board.
Long-standing ties to Alibaba
The appointment of He is particularly notable given his long-standing ties to Alibaba. In 2008, Alibaba co-founder and Ant director Joe Tsai invested in UCWeb, the mobile internet company founded by He.
After Alibaba acquired UCWeb in a deal valued at nearly $4 billion in 2014, He went on to serve as president of Alibaba’s Mobile Business Group, chairman of Alibaba Games and president of long-form video platform Tudou before leaving in 2017 to focus on Xpeng.
The relationship has continued through business partnerships. Xpeng and Ant’s global payments arm Antom entered a strategic cooperation agreement in 2025, and Antom began supporting payment services within the Xpeng app in Hong Kong in February 2026.
In autonomous driving, Xpeng has partnered with Alibaba-owned mapping platform Amap on robotaxi initiatives. The companies plan to launch three Level 4 robotaxi models in 2026, with services integrated into Amap’s ride-hailing platform.
Computing cluster
Xpeng has also worked with Alibaba Cloud to build the “Fuyao” intelligent computing center, which the company describes as China’s largest autonomous-driving computing cluster, with computing power of 2.51 EFLOPS.
Ant said He’s experience in frontier technologies and corporate management would strengthen a team of independent directors that combines expertise in technology, industry and global markets.
The company said He, together with Laura Cha, Zhang Hongjiang and other independent directors, will provide independent and professional oversight as Ant advances its artificial intelligence strategy.
Involvement in decision-making
According to China’s securities regulator, independent directors are generally limited to serving on no more than five domestic listed companies at the same time, and must ensure they have sufficient time and capacity to perform their duties.
Their responsibilities include participating in board decision-making, overseeing related-party transactions and other major matters, and providing professional advice.
Listed companies are required to provide remuneration and support for independent directors, with disclosures showing annual fees typically ranging from 80,000 to 180,000 yuan ($11,817-$26,589).
