China’s leading e-commerce giant, Alibaba has announced plans to split into six different units.
According to a statement by the company on Tuesday, the units will include Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group.
Each of the six units will be managed by its own CEO and board of directors and will explore fundraising or initial public offerings.
Daniel Zhang will continue to serve as chairman and CEO of Alibaba Group, which will follow a holding company management model, the company said in a statement.
This comes a day after Alibaba founder, Jack Ma was spotted at a primary school in Hangzhou, marking his first public appearance in mainland China in over a year.
