Alibaba names Goldman Sachs exec as president

Goldman Sachs veteran Michael Evans will take over the role of president of Alibaba Group effective immediately, the Chinese e-commerce giant announced in a statement Tuesday.

Alibaba says Evans will lead the company's expansion outside China and help develop its international plans for growth. Evans will report to Alibaba CEO Daniel Zhang, the company says in its statement.

"Michael has been a close advisor 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 globally, and his more than 20 years of experience in China," said Zhang.

Evans will retain his role on the board of Alibaba, which he has held since the company launched its initial public offering last September.

Prior to Alibaba, Evans spent 20 years with investment firm Goldman Sachs, where he served as vice chairman and the head of global growth markets.

"As we connect Alibaba and the rest of the world, we are turning to a proven international leader who has been connecting China and the rest of the world for most of his career," said Alibaba Group executive chairman Jack Ma. "Through his work on our board, he has built the trust and respect of our management team, and I have no doubt that he will make a significant contribution to our business."

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