Alibaba Restructuring to Improve Choice-Making, CEO Says

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SHANGHAI (Reuters) – Alibaba Group’s restructuring will enable all enterprise models to turn into extra agile, and improve sooner decision-making and sooner responses to market modifications, the tech conglomerate’s Chief Govt Daniel Zhang mentioned on Thursday.

Alibaba started laying the groundwork for the restructuring over the previous few years, he instructed a convention name.

Zhang’s feedback come two days after Alibaba introduced its largest restructuring within the firm’s historical past, which is able to see it change right into a holding firm construction with six enterprise models, every with their very own boards and CEOs.

The restructuring additionally opens up the chance for every unit to boost funds via its personal preliminary public supply (IPO).

(Reporting by Josh Horwitz; Modifying by Sam Holmes)

Copyright 2023 Thomson Reuters.



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