Chapter 1006 - Restructuring starts
Chapter 1006 – Restructuring starts
Shanghai. More than a dozen men were in the top floor’s meeting room of a newly renovated building, Tai Hua Building. The people in the meeting room are all prominent businessmen in China and were from different industries.
But all of them have one thing in common. Feng Yu owns some shares or the majority of shares in their companies. But regardless of whether Feng Yu owns some shares or the controlling shares, his decision will affect the companies. That’s why all of them came to this meeting with just a phone call.
Feng Yu sat on the podium with three other men, Zhong Qingxian, Wilson, and Wu Zhigang.
“I had called everyone here to announce a decision. I will transfer all the shares I own in various companies to a new holding company. This company will be called Tai Hua Holding Corporation. Zhong Qingxian will be the Chairman, Wu Zhigang will be the Deputy Chairman, and Wilson will be the legal consultant. In the future, if you all face any problems with your company’s operation, you all can discuss it with Zhong Qingxian. Of course, you all can still look for me…”
Feng Yu announced his decision, and it’s been decided.
Compared to Zhong Qingxian, Feng Yu still trust Wu Zhigang more. That’s why he transferred Wu Zhigang over. This is to groom him to be the next Chairman of Tai Hua Holding Corporation, and to remind Zhong Qingxian that this company belongs to Feng Yu!
As for Tai Hua Trading, Feng Yu had handed over to one of Feng Yu’s earliest staff. Feng Yu had placed his earliest staff in management roles to train them. It’s up to them to see if they can move on to higher positions.
Everyone was shocked to hear this decision, but at the same time, felt Feng Yu had made the right decision. Feng Yu had talked about advanced and comprehensive management model, and everyone knew he would be setting up a holding company. However, they did not expect Feng Yu to set up this holding company so early.
Many people were envious of Zhong Qingxian and Wu Zhigang. Some of them were even jealous of them. Zhong Qingxian was still fine, as he had set up the Lehaha group from scratch and grew it to become the top beverage company in Asia. Lehaha had even exceeded Jianlibao.
Zhong Qingxian had used his Lehaha’s shares to exchange for Tai Hua Holding Corporation, and everyone can accept him being the Chairman.
But who is that Wu Zhigang? He had only joined Feng Yu when the latter first started his business, and now, he is the Deputy Chairman of Tai Hua Holding Corporation. Many people are not happy with Wu Zhigang holding a high position.
“Manager Feng, is Tai Hua Holding Corporation going to handle the coordination between our company and Aiwa Electronics in the future?”
“Yes. The companies under Tai Hua Holding Corporation and the companies which we owned partially will share all their resources. The resources include our supply chains, sales distribution channels, new technologies, patents, etc. Tai Hua Holding Corporation will also plan the rotation of the finance executives in each company.”
Regardless of the company Feng Yu has the majority shares or partial shares, he will control the finance department. He will appoint at least one finance executive to be station there, to prevent the companies from doing false accounting or cover-ups. Even his first company, Tai Hua Trading, and state-owned majority, Bing City Pharmaceutical, are the same.
“Then, who will be doing the coordination?”
“Manager Zhao, it will be me.” Wu Zhigang replied. Manager Zhao is the General Manager of Aiwa Home appliances, but he is hired by Fu Guangzheng from overseas.
“Manager Feng, I feel that Wu Zhigang is not qualified for this position.” Manager Zhao said.
“Oh? Then who do you think should be in this position? You?” Feng Yu asked.
Manager Zhao replied without holding back. “That’s right. I think I am more suitable for this position as I was the one who coordinated the cooperation between Tai Hua Electronics, Tai Hua Home Appliances, Aiwa Electronics, Aiwa Home Appliances, and Aiwa Little Tyrant. I am more experienced than him!”
Feng Yu points to Li Mingde. “Manager Zhao, do you know this man?”
Manager Zhao was surprised by Feng Yu’s question. “No.”
“What about this person?” Feng Yu pointed to Li Jingwei and asked.
“No.”
Feng Yu looks at Wu Zhigang. “Zhigang, is there anyone here you do not know?”
Wu Zhigang immediately knew why Feng Yu was asking him this. “I know everyone in this room. Not only I know them, but I also know when they had joined this company and their previous work experiences, including Manager Zhao.”
Feng Yu admires Wu Zhigang’s character. He is hardworking, does his work seriously, and did his best in whatever position he is in. He had met all these people before with Feng Yu, and after Feng Yu gave him this important position, he took the time to memorize these people’s resumes.
Feng Yu looks at Manager Zhao. “Do you understand now? You don’t even know the people here. How are you going to coordinate the cooperation between them? It’s good to be ambitious, but I do not want to see anyone climbing up by stepping on others. I will forgive you this time. If you repeat this mistake, you can go back to England.”
Feng Yu said in a calm tone, but Manager Zhao can feel the shivers. He realized that he had become conceited. Feng Yu had praised his management skills before, but he is not one of Feng Yu’s trusted aides. If he wants to climb up, he must show Feng Yu better results.
“Anyone else has questions?”
Duan Yongping raised his hand. “Manager Feng, can we work in Tai Hua Holding?”
Duan Yongping is very ambitious. In Feng Yu’s previous life, Duan Yongping was forced to leave his company, and he moved on to set up a successful company himself. In this life, he was not forced to leave his company and also got the shares he wanted. But Aiwa Little Tyrant is the smallest electronic companies under Feng Yu.
“Of course. The management of Tai Hua Holding will be selected from you all. If you are interested, you can speak to Old Zhong. I also encourage all of you to use your company’s shares to exchange for Tai Hua Holding’s shares.”
Duan Yongping is decisive and is good in management, and he is suitable to be a Deputy Chairman.
After Feng Yu said this, a few people start to consider this offer. A holding company and subsidiary have both pros and cons. Jiang Wanmeng still prefers to be the top man in Wind and Rain Electronics. But Manager Wan from Tai Hua Batteries is thinking the same as Duan Yongping. He wants to try working in this holding company, as Tai Hua Batteries is quite small.
“We will start the restructuring process, and I will hire a few audit firms to audit all your companies. I hope I will not discover any problems!”