Chapter 797 – Lenovo Kingsoft is set up
Feng Yu flew back to Beijing from Hong Kong after 3 days. He was in Hong Kong to visit the Fu family, Li family, and Wind and Rain consulting. Other than visiting these places, he had no other businesses in Hong Kong.
Feng Yu was in a rush back to Beijing because he was needed to set up the Lenovo Kingsoft Software Company. He needs to confirm his investment.
Lenovo, Kingsoft, and Kirilenko’s software company will be setting up a company together. These companies will pool together their software engineers, products and funds in this new company. Feng Yu will only be providing some funds and ideas.
Feng Yu was able to provide the most funds for this new company, and no one disagreed with his proportion of shares.
“Manager Feng. Let me introduce Qiu Bojun. He is the founder of Kingsoft and is an expert in coding. He is the best software engineer in China. This is Lei Dajun. He is the General Manager of Beijing Kingsoft. This is……” Liu Chuanzhi introduced a few people to Feng Yu.
“Hello, everyone. We will be one big family in the future.” Feng Yu laughed as he greeted.
“You are Manager Feng? You are the one who proposed the improvements to WPS? Who is the one that taught you about this? Which school did you graduate from?” Qiu Bojun asked.
“I did not study programming or software. I made those suggestions based on the user’s point of view. Don’t you all think that our office software will be improved once the problems I suggested had been solved? The functions of our software will be much better than Microsoft Office.”
Liu Chuanzhi added. “All you might not know, but Manager Feng is also Microsoft’s director.”
Lei Dajun shouted in, shocked. “Which company? Microsoft? That software company in the US?”
Feng Yu laughed and did not say anything.
“How many Microsoft are there in this world?” Liu Chuanzhi was full of respect for Feng Yu. He also did not understand how Feng Yu could become Microsoft’s director suddenly. He knew Feng Yu owns quite a lot of Microsoft shares. But owning the company’s shares is very different from being a director.
Everyone in the room was looking at Feng Yu with admiration. Even those that look down on Feng Yu were looking at him with respect.
No wonder this young man was able to propose improvements to their software. He is Microsoft’s director. Everyone in the room had to admit that Microsoft was on another level if they compared their technological capabilities, growth, and company scale.
“I am only an investor. All of you will be the one who can make this software a success.” Feng Yu replied.
“Manager Feng is too modest. We will work hard together to bring honor to the Chinese software industry. Mr. Kirilenko is unable to join us today. But I had spoken to him over the phone. Our joint-venture company will be named as Lenovo Kingsoft Software, a subsidiary under Lenovo Corporation. A branch company will be set up in Moscow, and it will be named as Lenovo Kingsoft Moscow branch Company. It will be part of Lenovo Kingsoft Software. Most of the Russian engineers will be working in this branch company.”
“Now, let’s assign our tasks. The development of WPS and other office software will be conducted in Beijing. Moscow will be focusing on the Stock Market Analysis Software. Both sides will develop the operating system and antivirus together. We will discuss it again when we have new ideas.”
Feng Yu nodded. WPS and the Stock Market Analysis Software will be able to generate profits fast, followed by antivirus software. PC operating system was the hardest to succeed. But if they were successful, Lenovo Kingsoft will be Microsoft’s main competitor.
“This is 4-way cooperation, and we will proportion the shares based on our individual investments. The products, technologies, etc. had been evaluated and will be used as investments in the company. This company will have a start-up capital of 100 million USD. Lenovo Corporation will invest 20 million USD worth of technology and products. Their shares of the company will be 24%. Moscow Bear Software company will invest with its technologies, products, and 20 million USD. They will get 27% of the company’s share. Feng Yu will be investing 55 million USD and 3 floors of office space in the Wind and Rain building. He will be holding 38% of the company’s shares.” Liu Chuanzhi continued.
Feng Yu’s invested amount was more than 50% of the capital. But his proportion of the shares is only 38%. This was because Feng Yu does not have engineers and products. But Feng Yu does not mind.
To be able to gather so many top software engineers, the potential of this company will be great, and the returns will be much higher than what Feng Yu invested.
Feng Yu’s office building still has 3 floors of empty office space and could make full use of it.
The proportion of shares was still not in detail. For instance, Kingsoft’s shares of the company do not belong to Qiu Bojun alone. The percentage will still have to be split according to Kingsoft’s shareholders. All of Kingsoft’s shareholders will set up a Kingsoft Management company to manage the new company’s shares. Qiu Bojun is the biggest shareholder of this management company, and Lei Dajun, the other shareholders, and the engineers will also own some shares. The welfare of Qiu Bojun’s software engineers is much better than Lenovo.
“We have discussed and set the proportion of shares of this new software company. Is there anyone who disagrees with this arrangement? No? Alright. We shall be discussing the candidates for the top management of Lenovo Kingsoft now. I will be the Chairman of this company. It is decided by Manager Feng and Mr. Kirilenko. The board of directors will consist of Kirilenko, Mozgov, Feng Yu, Qiu Bojun, Lei Dajun, Zhu Linan, and me. There will be a total of 7 members on the board of directors. There will be 5 members in the monitoring committee. They are…… Does everyone agree to this?” Liu Chuanzhi asked.
This arrangement was as discussed. All 3 parties will have 2 people on the board of directors, and the Chairman is Liu Chuanzhi. The monitoring committee members are appointed by Feng Yu. Feng Yu was also the head of this monitoring committee.
3 days later, Kirilenko, Mozgov, and the rest arrived in Beijing and signed the contract. Lenovo Kingsoft Software Company was officially set up.
The board of directors had decided on the key appointments of the company. Liu Chuanzhi will be the Chairman of the company. Zhu Linan was appointed to be the company’s CEO. Qiu Bojun, Lei Dajun, and Mozgov will be the Deputy Chairman. Mozgov will also be heading the Moscow branch.
The middle management staff were also decided. As for the lower level staff, the heads of the respective departments will decide. Qiu Bojun and the rest were curious about why Feng Yu was only a director when he had invested so much money into this company. His duty was only overseeing the finances.
This Manager Feng was different from everyone else. Maybe wealthy people are weird, and no one can understand them.