Chinese software provider Kingsoft has confirmed its plan to split into three subsidiaries, and Qiu Bojun, chairman and CEO of Kingsoft Group, says the group will still stick to the unified brand of Kingsoft.
According to the official information from Kingsoft, the company announced the restructuring and partition plan at its annual conference held during the Chinese Lunar New Year holiday that ended over the weekend. By the plan, Kingsoft will become one group, three subsidiaries and two business departments.
The three subsidiaries will focus on the businesses of computer games, office software and security software, respectively, while the group will maintain two business departments, which are its Ci Ba business, a translation product, and the overseas business department. Zhang Wenbing, vice president for Kingsoft Group, will be in charge of the overseas business department while Li Wanqiang, general manager for Kingsoft's Ci Ba, will be in charge of the Ci Ba business department.
After the company is formally split, each subsidiary will have its own independent business management rights as well as finance and human resources departments. However, their senior managers should be directly appointed by the group.
Zou Tao, Kingsoft's senior vice president who previously was in charge of the game business, will be CEO of Kingsoft's game subsidiary; Ge Ke, Kingsoft's senior vice president who previously was in charge of the software business, will be CEO of Kingsoft's office software subsidiary and security software subsidiary concurrently; Zhan Zhenyang will be COO of Kingsoft's game subsidiary; Chen Feizhou will be CTO of Kingsoft's game subsidiary; Wang Xin will be COO of Kingsoft's security software subsidiary; and Wan Li will be CTO of Kingsoft's security software subsidiary.
Kingsoft emphasizes that the group will maintain a unified image and unified major principles. The partition will make the responsibilities and rights of different businesses clearer and it is convenient for these subsidiaries to implement independent incentive systems.