Goldman Sachs’s Michael Evans Appointed as the New President of Alibaba

Michael Evans is a veteran in the industry who has served for twenty years at Goldman Sachs. He is an extremely valuable asset to Alibaba during a crucial time.

The company has appointed him as their new President and Evans will be responsible for all business decisions and expansions from now.

Alibaba

With this announcement, Alibaba, a leading retailer in China has confirmed that they are not going to bask in the laurels earned in their home country. Most retailers in the country would prefer enjoying their success as long as it lasts because being world’s largest populated region has its own advantages. They have one of the biggest consumer base in the world and it is much easier to cater to a specific group of audience than risk selling products to an international audience.

Alibaba dared to be different and has confirmed that they are going to find ways to change the way the e-commerce industry is around the globe. Michael Evans served as the Vice Chairman at Goldman Sachs. He was the Chairman of Asia and led the Global Growth Marketing team before he signed up to be a board member with Alibaba in 2014.

After serving for a year in the board, he has been given the prestigious position of being the president of the company. A press statement confirmed that he will continue to be in the board, besides taking care of his new responsibilities. Alibaba is aiming to become a solo platform that will facilitate cross border e-commerce transactions.

Manufacturers and retailers in different continents hesitate to sell their products to other countries because a lot of hurdles populate the path. What with taxes, Customs to freight and delivery, it is difficult to execute on a foreign land, which the mediator aims to get rid of. When the expansion takes place, Alibaba confirms that anyone will have the freedom to sell goods in and out of China. They can also use the platform to export goods to any part of the world without investment risks.

Michael Evans Goldman Sachs Alibaba President

Alibaba already owns a bunch of firms in different sectors including T-Mall, Tao Bao, Juhuasuan and Alitrip. With a 1.3 billion Chinese population, companies would seldom venture outside because they have all the user base they need. But, Alibaba wants to go global in the next few years. Their new president Evans will be in charge of executing the international growth strategy in a successful manner.

Related Posts