Alibaba blocks Yahoo CEO from joining board
Chinese e-commerce giant Alibaba Group doesn't want Yahoo Inc. CEO Carol Bartz to be part of its board as she had suggested.
Wang Shuai, chief marketing officer of Taobao.com under the group, said Bartz should first improve the California company's own business. Taobao.com is the largest online consumer e-commerce site of Alibaba.
Yahoo! Inc. is a shareholder of the Alibaba Group owning 39 percent of the latter. Alibaba sold the share to Yahoo Inc. in 2005 in exchange for controlling the latter's Yahoo! China
Bartz declined to comment on the reports.
The 62-year-old CEO made the suggestion last week after Yahoo! Inc. rejected Alibaba.com's offer to sell the 39 percent stake back to the group.
Bartz said the ideal time for Yahoo to exit from Alibaba will be after Taobao.com and Alipay.com, Alibaba's online shopping and payment subsidiaries, go public, according to China's People's Daily.
Bartz still intends to join the Alibaba.com's board later this year, when Yahoo gets a second seat on the board under its 2005 agreement with the company.