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Ant Announces Organizational Overhaul, Establishing Digital Payment Biz Group & Alipay Biz Group
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Ant Group issued an internal letter announcing a new round of organizational restructuring and the establishment of two new business units, namely Digital Payment Business Group and Alipay Business Group, according to Chinese media. The two business groups will adopt a rotating presidential system, with the rotating presidents serving a six-month term. The first rotating presidents of the Digital Payment Business Group and Alipay Business Group will be Qin Yi and Pu Tian respectively. Han Xinyi, President and CFO of Ant Group, said that the Alipay Business Group fostered the Alipay Double Flywheel and AIFirst strategies in 2024. Looking ahead to 2025, the Alipay Business Group will carry out a new organizational restructuring in order to accelerate the implementation of the strategies and assist outstanding leaders to expedite their growth. The report also stated that Liu Zheng, a senior executive of Alibaba, will succeed Han Xinyi as the CFO of Ant Group. AAStocks Financial News |
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