China's Alibaba Picks Former Goldman Executive as President

Advertisement
By Agence France-Presse | Updated: 5 August 2015 15:20 IST
China's e-commerce giant Alibaba said Tuesday it had appointed a former Goldman Sachs executive as president, to help its business expand further worldwide.

Michael Evans, who was a partner for 20 years with the US-based investment bankers, has been an independent director of the Chinese firm since Alibaba's initial public offering (IPO) in September last year.

His appointment "highlights Alibaba Group's strong commitment to globalising its business", the group said in a statement.

Advertisement

"Globalisation is Alibaba Group's most important strategy for the coming decades, and our goal is to help 10 million global businesses and serve two billion consumers around the world," said Daniel Zhang, Alibaba's chief executive.

Evans "will harness Alibaba Group's leading platforms with direct access to 350 million Chinese consumers to drive increased levels of cross-border commerce between China and the world," the statement added.

Alibaba's Tmall.com site is believed to command more than half the Chinese market for business-to-consumer transactions, while its Taobao platform holds more than 90 percent of the consumer-to-consumer market in China.

But the New York-listed company faces domestic competition from Internet giants Baidu and Tencent, and remains relatively little known outside the country.

Advertisement

Last week it announced it would invest $1 billion (roughly Rs. 6,392 crores) in its cloud computing arm to expand its international presence.

Evans won an Olympic gold medal for his home nation Canada as a member of the men's eights rowing team in the Los Angeles 1984 Summer Olympics.

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Alibaba, Internet, Taobao
Advertisement

Related Stories

Popular Mobile Brands
  1. OnePlus 16 vs iQOO 16: Price and Specifications Compared
  2. Best Phones With Telephoto Cameras Under Rs. 40,000
  3. Here's When Apple's 'Pro and Tell' Launch Event Takes Place
  1. Samsung Galaxy F70 5G With 5,000mAh Battery, 50-Megapixel Camera Goes on Sale in India: Price, Offers
  2. Apple ‘Pro and Tell’ Event Set for Next Week; First MacBook With Touchscreen, New iPad Mini and More Expected to Launch
  3. Cysic Shuts Down Bridge After Attacker Illegally Creates 10 Million CYS Tokens
  4. JPM Coin Arrives on Ethereum as JPMorgan Expands Institutional Payments
  5. Vivo V80 FE Reportedly Spotted on BIS Certification Website, India Launch Seems Imminent
  6. Airtel’s New Recharges in India Announced: Rs. 185, Rs. 203 and Rs. 206 Voice-Only Plans Details
  7. Vivo X500 Ultra Leak Reveals Launch Timeline, Chipset, Display and Key Specifications
  8. iQOO Neo 12 Launch Date Announced; Design, Colour Options Teased
  9. Qubic Halts Chain as Attacker Exploits Weak Seeds to Drain 1,400 Wallets
  10. iPhone Duo Battery Capacity Revealed Days Before Foldable Goes on Sale
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.