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Here Is What Alibaba Group Holding Ltd (BABA)’s New CEO Said About His Plans

Alibaba Group Holding Ltd (NYSE:BABA) has introduced its new CEO, Daniel Zhang to the world last week. This important announcement was made on Thursday, which echoed the former CEO, Jack Ma’s opinion that the internet belongs to young people. Ma promised earlier that all of Alibaba Group Holding Ltd (NYSE:BABA)’s executives born in 1960’s will be stepping down and give way for young people. So what’s the plan of Alibaba Group Holding Ltd (NYSE:BABA)’s new CEO for the organization? CNBC’s Courtney Reagan reported on CNBC about Alibaba Group Holding Ltd (NYSE:BABA)’s new CEO’s plans for the Chinese e-Commerce giant.

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Reagan reported that Alibaba Group Holding Ltd (NYSE:BABA) is planning to invest heavily in global growth. Alibaba’s new CEO plans on investing in global market and extend the companies reach beyond the Chinese border. She reported that Zhang has laid out some broad international plans for the company.

Reagan added that Alibaba has already announced about its cloud computing set up in Dubai. She mentioned that Alibaba also boosted its stake in the online retailer Zulily in United States.

“Alibaba plans to invest heavily abroad as the Chinese e-Commerce giant seeks to push beyond its domestic market. The companies new CEO Daniel Zhang has laid out broad international plans in his first speech since taking over the helm recently. Already this week, Alibaba has announced it would set up a cloud computing center in Dubai and it has boosted its stake in US online retailer Zulily. The bottom line, Chinese internet colossus is looking to aggressively expand its international investments,” Reagan reported.

Jack Ma still has a good holding in the company and he might still remain as the ultimate authority in the organization, but he and the board looks up to Daniel Zhang, younger and fresher CEO to deliver some quick results and expand the companies reach into the international markets.

Zhang has made it very clear in his first speech since his appointment as CEO that he would be aggressively pushing the company’s reach in international market. This would mean that we can expect more international investments from Alibaba in an attempt to grow in every corner of the world. Will Zhang succeed in delivering international growth and push the company to a new level?

Disclosure: None

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