Chinese e-commerce company Alibaba names Nestle executive Wan Ling Martello to board

MarketsAssociated Press

Alibaba named Nestle executive Wan Ling Martello to its board of directors Wednesday..

Martello, an executive vice president, oversees the packaged food company's business in Asia, Australia and parts of Africa. Before joining Nestle, Martello was chief financial officer at the international unit of Wal-Mart Stores Inc.

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The Chinese e-commerce company said last week that growing its international business was a priority as domestic growth slows. International brands, such as Macy's, are opening stores on the site to reach Chinese customers, and Alibaba is working to get Chinese companies to sell outside the country.

Martello will join the company's board next month, bringing its total board members to 11.

Shares of Alibaba Group Holding Ltd. fell $1.03, or 1.4 percent, to $72.85 Wednesday.