Alibaba Group Holding Ltd. has tasked Michael Evans, a former executive of Goldman Sachs Group, to oversee Alibaba's global expansion and sustain its strong growth. (Photo : www.afr.com)
Alibaba Group Holding Ltd. has named Michael Evans, a former executive of Goldman Sachs Group, as president of the company to lead its global expansion and sustain its strong growth, the Xinhua News Agency reported.
According to a statement filed by the company with the New York Stock Exchange on Tuesday, Aug. 4, Evans will take the lead and execute Alibaba's international expansion strategy, which will ensure the company's globalization and business growth outside of China.
Alibaba Group CEO Daniel Zhang said that the company now needs a global team to realize its ambition, as it had been setting the groundwork for globalization for years.
Since the company's initial public offering (IPO) in Sept. 2014, Evans has served as Alibaba's independent director.
Prior to joining Alibaba, Evans served as vice chairman of Goldman Sachs, where he spent two decades in various positions, including vice chairman and head of Asia.
According to the report, Evans's hiring indicates Alibaba's intention to enhance its cross-border commerce after years of strengthening its position in the domestic market.
The report said that Alibaba top executives have long held that connecting wealthy Chinese consumers to producers, such as meat producers in South America or toymakers in Europe, would generate billions in additional revenue for Alibaba.
Although Evans has no direct experience in e-commerce, Alibaba's management reportedly trusted him, being close to Jack Ma and Vice Chairman Joseph Tsai for years.
The company said that Evans, whose position is newly created, will be reporting directly to CEO Daniel Zhang.
Zhang described Evans as "a close adviser to Alibaba Group for many years, and we greatly value his deep knowledge of our business, his experience as a proven business builder and leader, and his more than 20 years of experience in China."
