Alibaba to reorganize into six business groups and other investments

Alibaba Group said it will reorganize into six business groups and other investments in "a move designed to unlock shareholder value and foster market competitiveness." Daniel Zhang will continue to serve as Chairman and CEO of Alibaba Group, which will follow a holding company management model, while each of the six business groups will be managed by its own CEO and board of directors. "The move marks the most significant governance overhaul in the platform company’s 24-year history and better positions Alibaba’s businesses to become more agile so as to better capture market opportunities and stimulate growth," the company stated in a post to its corporate news site. The six business groups will be: Cloud Intelligence Group; Taobao Tmall Commerce Group; Local Services Group; Cainiao Smart Logistics; Global Digital Commerce Group; and Digital Media and Entertainment Group. "Each business group and other investments will retain the flexibility to raise outside capital and seek an initial public offering. The exception is Taobao Tmall Commerce Group, which will remain an Alibaba Group wholly owned unit," the company said. Reference Link