breakup into separate companies will allow its business units to become more agile and eventually list on their own, the tech conglomerate's chief executive Daniel Zhang said on Thursday.in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs.
Alibaba began laying the groundwork for the restructuring a few years ago, Zhang told investors during a conference call, adding the business units could pursue public listings on their own in the future. Alibaba, however, will decide whether the group wants to keep strategic control of each unit after they go public, Xu said.
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Alibaba to break up business into six units, seek IPOs | CNN BusinessAlibaba Group plans to split its business into six main units covering e-commerce to cloud in the biggest restructuring of its 24-year history. This a great move and will hopefully set an example for Amazon, Facebook, Microsoft, Google and co. It is time that these companies break themselves or face monopolistic oversight.
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