Ant to Set Up Board for International Unit in Broad Overhaul
- Three units to set up respective boards, internal memo says
- Units include International, OceanBase, Ant Digital Tech
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Ant Group Co. plans to set up independent boards for its international, database and digital technologies operations as it pushes forward the overhaul of its fintech business, according to a memo seen by Bloomberg.
The affiliate of Alibaba Group Holding Ltd. will set up separate boards for Ant International, OceanBase and Ant Digital Technologies, according to the memo. Cyril Xinyi Han was appointed president of Ant Group, reporting to Eric Jing, the firm’s chairman and chief executive officer, the memo said.