Alibaba will evaluate the strategic importance of its six standalone units within the group and decide “whether to retain or relinquish control” after these units are listed, the e-commerce giant’s Chief Financial Officer Toby Xu said on a conference call with investors and reporters on Thursday. The call followed Alibaba’s announcement on Tuesday of a significant organizational overhaul, which will split the company into six distinct businesses focusing on cloud intelligence, e-commerce, local life services, logistics and delivery, overseas digital commerce, and entertainment. CEO Daniel Zhang said on the same call that the Alphabet-style restructuring will enable each unit to have their own board and governance structure and allow them to seek separate listings. “Alibaba will transition from business operations to asset and capital operation, with each segment forming its own operating entity,” Zhang told investors. [The Paper, in Chinese]
Alibaba considers relinquishing control of standalone units after major restructuring
