Alibaba Group announced plans to divide the company into six individual units responsible for different business areas, reports Reuters.
Each business will have its own CEO and board of directors. They will also seek an initial public offering and raise outside capital.
The Alibaba Group will divide into the following units:
– Cloud Intelligence Group
– Taobao Tmall Commerce Group
– Local Services Group
– Cainiao Smart Logistics Group
– Global Digital Commerce Group
– Digital Media and Entertainment Group
The reconstruction comes a day after Alibaba founder Jack Ma returned home after a year-long stay abroad, following two years of crackdown.
