On March 19, Jing Xiandong, Chairman and CEO of Ant Group, issued a letter to all staff announcing a new round of organizational structure upgrades: Cyril Han (Han Xinyi) will become the President of Ant Group, fully responsible for digital payment, digital interconnection, and digital finance businesses, reporting to Chairman and CEO Jing Xiandong. Ant International, OceanBase, and Ant Digital Science and Technology have established their own boards of directors, independently facing the market.
In the letter to all staff, Jing Xiandong said that this organizational upgrade is to further accelerate the pace of reform and promote Ant’s three major strategies: “AI First”, “Alipay Dual Flywheel”, and “Accelerate Globalization”. The adjustment continues Ant’s strategy of transforming the organization towards market changes, promoting the rejuvenation of the management team, and will further stimulate organizational vitality.
Public information shows that Cyril Han joined Ant Group as a senior director of the investment department in May 2014, served as the CFO of Ant Group in April 2020, and entered the board of directors as an executive director in January 2023. Ant Group stated that Han has played an important role in strategic decision-making at Ant Group through deep participation in business over the past few years.
In addition to Alipay, there have also been significant adjustments to Ant’s technology and globalization businesses. In recent years, Ant has continuously promoted its technology and globalization strategies, incubating innovative business sectors such as Ant International, OceanBase, and Ant Digital Science and Technology. Jing Xiandong revealed that the three companies have begun to operate independently, each establishing a board of directors and implementing a CEO accountability system under board leadership.
The letter to all staff revealed that the three companies have introduced equity incentive tools that better match entrepreneurial organizations, which will be granted in 2024, allowing employees to share more closely in the results of business development while taking on greater responsibilities. At the same time, Ant will continue to provide support for the long-term sustainable development of the three companies in the four aspects of corporate governance, technology, risk control, and capital.
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