The restructuring will result in six business units dedicated to cloud computing, commerce (local ecommerce brands like Taobao and Tmall), local services, logistics, digital commerce (overseas ecommerce platforms like Lazada and AliExpress), and media. Each corporation will have its own CEO and board. Chairman and CEO of Alibaba, Daniel Zhang, will continue to hold both roles, on top of heading the Cloud Intelligence Group. Only the highly profit generating commerce segment that generates over two-thirds of total revenue will be retained as a wholly owned entity under the parent group, which oversees the six business units as a holding company. All other units are allowed to raise capital from external sources and pursue their corresponding public listings.