Sino-Global Shipping America, Ltd. Is looking to expand its growth in the cryptocurrency market. To do this, the company is experiencing some solid changes in management.
Sino-Global Is Shifting Towards Crypto
For example, Sino-Global chairman and chief executive officer Lei Cao has stepped down from his latter role with the company. Having been with the company for roughly 20 years, he will remain chairman of Sino-Global, but will not serve in an executive capacity. The company’s board of directors has chosen vice president Yang “Leo” Jie to take over in the role of CEO, while Tuo Pan will step up as the firm’s chief financial officer.
In an interview, Lei Cao explained:
I am proud of everything we have achieved over the past 20 years and Sino-Global’s strong financial position. Several quarters ago, we embarked on an ambitious strategic shift designed to propel our company into the future of commerce, while leveraging our extensive successes and global logistics network. After considerable thought and planning, we believe it is the right time to empower the next generation to execute the day-to-day operations with tireless and relentless focus. Mr Yang ‘Leo’ Jie is an outstanding executive who knows our business and will lead Sino-Global in this rapidly evolving business environment. He has worked closely with me and the Board over the past year and is the right choice to guide Sino-Global into the new era. I am highly confident Mr. Yang ‘Leo’ Jie has the insight and judgment to deliver the leadership we need today and long term. In my continuing role as chairman, I look forward to partnering together to build value for all shareholders.
Yang Jie also threw his two cents into the mix, commenting:
Mr. Lei Cao has been a remarkable leader and provided vision and drive, establishing Sino-Global as an important global shipping and logistics company. His foresight in diversifying into the crypto market has given us a meaningful competitive advantage and scalable platform to accelerate growth. I appreciate Mr.Cao’s confidence and the support of the entire board of directors in electing me as chief executive officer, only the second in the company’s 20-year history. I believe we have even greater opportunities ahead as we shift our priority to the U.S., leveraging our technology platform and blockchain to develop new logistics methods, blockchain-related businesses and complementary services.
Blockchain Works for Supply Chain Companies
As time has gone by, more and more companies are looking to grow and branch out into crypto. Given its status as a shipping firm, it makes sense that Sino-Global would want to do the same. Blockchain is predominantly thought of as a financial tool, though it could potentially also be utilized for supply chain purposes as well.
Sino-Global was founded in the year 2001 and has offices in Australia, Los Angeles, and China.