Alibaba has once again restructured its management team following a similar exercise in January this year. Company chief executive Jonathan Lu will head the company’s mobile Internet business, under which sees the newly formed mobile communication unit, Taotao Diandian – focused on Alibaba’s online-to-offline business, and the formation of a digital entertainment business unit focused on music, video, books and other entertainment business.
Amid reports of the Alibaba Group’s anticipated initial public offering (IPO), company founder and executive chairman Jack Ma revealed in a company e-mail details about the Alibaba Group management’s “partnership system”.
The issue was brought into the spotlight as the company considers an IPO in Hong Kong or New York. In Hong Kong, the stock exchange does not allow a dual-class share system for new listings such as those offered in New York. Alibaba is seeking an exemption in order to maintain control of its board of directors post-IPO.
Business Strategies Group Hong Kong – www.bgsasia.com