The company will adopt a ‘rotating presidential system’ for the two new businesses, with each unit president serving a six-month term.
Ant Group is restructuring Alipay by splitting it into two business units: Digital Payment Business Group and Alipay Business Group. This move aims to: * Drive growth: Focus both units on specific areas for expansion - innovative payment products (Digital) and user growth and monetization (Alipay). * Promote innovation: The "rotating presidential system" with six-month terms encourages fresh perspectives and dynamism. * Reflect Alipay's evolution: Positioning it as more than just a payment tool, emphasizing its role in facilitating digitalization across various services. Essentially, Ant Group is separating Alipay's core payment function from its expanding ecosystem to foster independent development and strategic focus within each unit.
