AAA Zeisser moves out of Alibaba

Zeisser moves out of Alibaba

Michael Zeisser, chairman of US investments for China-headquartered e-commerce firm Alibaba, has left the company, Recode reported yesterday, citing a source familiar with the situation.

Zeisser had held the position since 2013, during which time the corporate’s investments have included messaging platform Snap, augmented reality technology developer Magic Leap and ride hailing service Lyft.

Although neither Alibaba nor Zeisser have revealed details of the situation, the source told Recode his departure, which was announced through an internal memo last weekend, was due to disagreements with the company’s co-founder and chairman, Joe Tsai, over investment strategy.

Peter Stern, who was part of the US investment team when it was formed in 2013, is expected to replace Zeisser, according to Recode.

Stern, a former banker at financial services firm Credit Suisse who had advised Alibaba on its $7.6bn stock repurchase from Yahoo before joining the company, is also expected to assume Zeisser’s board observer duties at both Magic Leap and Lyft.

Before coming to Alibaba, Zeisser was a senior vice-president at mass media conglomerate Liberty Media for 10 years, having previously spent 12 years as a partner at consultancy firm McKinsey and Company’s media and private equity division from 1991.

– Photo courtesy of Zeisser.com.

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