Date: 15 Oct, 2019 [Hong Kong, China]
Skymind Ai Limited is pleased to announce a significant restructuring and decentralization of Skymind AI Limited, Hong Kong, the Asia-Pacific arm of Skymind Inc., USA. Effective November 2019, Skymind AI Limited, originally a joint venture between Skymind Inc., USA, and Jetset International Limited, Hong Kong, has been restructured into a new entity, Skymind Holdings Limited, Hong Kong, with Jetset International Limited as the sole shareholder.
This strategic move is part of Skymind’s broader decentralization initiative aimed at fostering growth and enhancing our ability to innovate within the dynamic landscape of artificial intelligence. As part of this decentralization, Skymind Global Limited was incorporated in the UK to expand its presence in Europe, and Skymind Pte Ltd was established in Singapore to expand into Southeast Asia.
We are also pleased to announce that Shawn Tan will lead the company as Global CEO, guiding our strategic vision and ensuring the continued success of Skymind’s global operations.
Key Points of the Restructuring:
- Decentralization Strategy: The restructuring into Skymind Holdings Limited is a critical step in our decentralization strategy, enabling greater flexibility and agility in our operations.
- New Entity Formation: Skymind AI Limited has been restructured into Skymind Holdings Limited, with Jetset International Limited as the sole shareholder, ensuring a streamlined governance model.
- Expansion into New Regions: Skymind Global Limited was incorporated to expand our presence in Europe, and Skymind Pte Ltd was set up in Singapore to expand into Southeast Asia.
- Independent Entities: All these Skymind entities are not directly owned by Skymind Inc., but share common shareholders and have different boards and management teams.
Leadership: Shawn Tan will lead the company as Global CEO, driving our strategic vision and global operations. - Enhanced Growth Potential: This move is designed to facilitate sustainable growth and innovation, aligning with Skymind’s mission to democratize artificial intelligence and provide advanced AI technologies to enterprises worldwide.
We believe this strategic restructuring will significantly enhance our operational efficiency and drive the next phase of growth for Skymind. We remain committed to our core values of innovation, excellence, and collaboration, and we are excited about the new opportunities this transition will bring.
For any inquiries or further information, please contact: [email protected]