Chinese e-commerce giant Alibaba Group , announced on Tuesday it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24 year history.
People stand in front of a sign of Alibaba Group during the World Artificial Intelligence Conference, following the coronavirus disease outbreak, in Shanghai, China, September 1, 2022. REUTERS/Aly Song, announced on Tuesday it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24 year history.
Taobao Tmall Commerce Group will remain wholly owned by Alibaba Group after the restructuring, the company said, even as the other units will be free to seek fundraisings and listings. However, together with Alibaba's other overseas e-commerce platforms, they are some of the company's fastest-growing divisions.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Factbox: FACTBOX Swiss female pensioners vs the government: European court's first climate caseA case involving thousands of retired Swiss women is being heard at a European Court in France, the culmination of a six-year legal battle in which they claim their government's insufficient action on climate change violated their human rights.
Read more »
Alibaba to overhaul into six units while retaining stock-market listings: reportAlibaba will overhaul its operations, the South China Morning Post reported, citing a letter to employees. The company will reorganize into six independently...
Read more »
Alibaba to split into six units, explore IPOsAlibaba Group Holding Ltd is planning to split its business into six main units covering e-commerce, media and the cloud, the company said on Tuesday, adding that each of the units will explore fundraising or initial public offerings.
Read more »
Alibaba to split into 6 units and explore IPOs; shares pop 6%Alibaba said Tuesday it will split its company into six business groups, each with the ability to raise outside funding and go public.
Read more »
Alibaba to split into six unitsAlibaba Group Holding Ltd said it plans split its business into six main units covering e-commerce, media and the cloud, adding that each of the units will explore fundraising or initial public offerings.
Read more »
Alibaba to break up empire into six units as Jack Ma returns to ChinaAlibaba Group plans to split into six units and explore fundraisings or listings for most of them, in a major revamp as Beijing vows to ease a regulatory crackdown and support its private enterprises.
Read more »