Alibaba Group Holding Ltd. has appointed Michael Evans, a former top Goldman Sachs Group Inc. executive, as the President of the company.
Evans will be focusing on the company’s international expansion strategy, initially seeking to build partnerships with brands, retailers and product owners in Europe, the Americas and Asia to help them sell in China. Of late, Alibaba is promoting cross-border eCommerce as a growth driver as the country’s online-retail market grows increasingly competitive.
The concept of “Cross Border” means, companies from any country in the world will be able to sell to customers in other countries through seamless integration of their home market supply chains, stock and sales channels directly to foreign consumers , with cheap and fast delivery. For example, at present, it can take up to two weeks to deliver from a U.S. distribution center to China and the cost of shipping makes it a non-starter for many bargain hunters. With Cross- border eCommerce, this issue will be resolved.
As per the company, Mr. Evans, who had been an independent member on Alibaba Group’s board since the company’s initial public offering in September, will continue to serve on the board as a management member. He will report to Daniel Zhang, Alibaba Group’s chief executive, reports WSJ.