Chelsea_SunChelsea_Sun ・ Feb. 2, 2024
Meituan Announces Organizational Overhaul | TMTPost Exclusive
Based on the reorganized business structure, Meituan is still marching forward centering on the four buzzwords "localization, retail, technology, and internationalization."

 

BEIJING, February 2 (TMTPOST)—Wang Xing, the CEO of Beijing-based internet platform firm Meituan, has announced in an internal email an organizational restructuring plan aimed at integrating various businesses associated with core local commerce.

Additionally, he emphasized elevating technology and internationalization-related operations to top priorities.

Concerning core local businesses, Wang is set to consolidate previously separate operations. Key adjustments involve the integration of Meituan In-store, Meituan At-home, Meituan Platform, and foundational research and development, all of which will be overseen by Senior Vice President Wang Puzhong.

The businesses of Meituan Dianping, SaaS, ride-hailing and mobile power will be headed by Senior Vice President Zhang Chuan, while the rest of the organization will remain unchanged.

Wang expressed confidence that the company could harness its strengths to enhance efficiency and better serve customers.

"Drones and overseas businesses will be directly reported to me," Wang Xing said in the email. This move is seen as part of the company’s efforts to further expand technology and overseas businesses.

"The integration of in-store and delivery services is within the industry’s expectation," said an insider familiar with Meituan. "Group buying and food delivery have a high degree of overlapping on the supply side, both of them can meet similar consumer needs through different methods."

Food delivery, group buying, and travel and hospitality have been high-frequency businesses for Meituan. The synergy of the platform and R&D reflects Meituan's determination to further improve organizational efficiency and upgrade the product experience, the insider analyzed.

In-store services have been one of Meituan's longest-standing businesses, undergoing several adjustments. The most recent major change took place in December 2017 when Meituan announced the establishment of the in-store business group under the leadership of Zhang.

Public information shows Meituan’s in-store business group has taken various measures and launched products to enhance the supply efficiency and standardization of local merchants. It has built a robust digital infrastructure for local businesses. The three core values created by the in-store business group for Meituan include rich local merchant supply, standardized products and services, and a stable cash inflow.

Since last year, new dynamics have emerged in the landscape of the local commerce. The insider mentioned that with the improvement of infrastructure, consumer experience would become the key to competition. Integrating businesses with a high level of overlapping in merchant, user, and demand, and jointly developing a complete local consumption experience, has become increasingly important.

Wang Puzhong, the former head of Meituan's “delivery-to-doorstep” business group, will take up the mantle. According to public reports, Wang, born in 1984, is currently the youngest member of Meituan's senior management team. Since joining Meituan in 2015, Wang has held various positions, including Senior Director of Delivery Logistics and Head of Delivery and Distribution Business.

In recent years, Wang has led Meituan's food delivery from restaurants to the instant retail of "deliver everything to your home." Instant retail has become a new form of online and offline retail. In the past month, Meituan Flash Purchase has announced collaborations with companies such as Supor, Lego, and Decathlon.

Before this round of overhaul, Meituan also promoted some business managers. Last September, Meituan announced the promotion of five business heads to Vice Presidents, with several of them born in the mid-1980s.

"Despite numerous challenges both internally and externally, this is an opportunity to grow with the company," Wang said.

Since Meituan unveiled its new strategy of "retail + technology" in 2021, this is the first large-scale adjustment of the organization and personnel. Based on the reorganized business structure, Meituan is still marching forward centering on the four buzzwords "localization, retail, technology, and internationalization."

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