China-based smartphone maker Xiaomi has decided to restructure its businesses and create new leadership positions aimed at building a second tier to CEO Lei Jun, a report in Reuters said.
Xiaomi will introduce two new departments to advise Lei on strategy and oversee hiring, promotion and pay, Lei said in a memo to staff dated Sept. 13 and shared with the press on Friday.
Xiaomi would reshuffle its four main business units into 10 to promote younger managers, Lei said, adding that a majority of the newly-appointed leadership belonged to the post-1980s generation.
“Our senior management team has implemented several changes that will provide opportunities for young talent to rise up the ranks,” said Lei, 48.
Jack Ma, founder and chairman of Alibaba, recently decided to step down and hand his role to CEO Daniel Zheng.
Xiaomi, which listed its shares in Hong Kong in June in an initial public offering that valued the company at around $52 billion, underwent a strategic shift in 2016 after sales fell sharply, forcing it to pull out of several overseas markets.
Xiaomi has since focused on offline sales and reversed its fortunes, and currently draws roughly a third of its revenue from outside China.
