Hongxing Erke: Power Shift Problem

Unlike other first generation family entrepreneurs, when Wu Hanjie handed out power, he did not "listen to politics" or "overlord".

How did Wu Hanjie complete his shift? He was "two" in the "decisive" position.

Decentralization of children and children

Wu Rongguang and Wu Rongzhao constitute highly knowledgeable "fraternity" mode.

Hongxing Erke started in the 80s of last century, and was listed in Singapore in 2005. By the end of 2007, its family business assets reached 2 billion 77 million yuan.

But at this time, Wu Hanjie, who is getting older, is facing the problem of power shift.

As a family business, it is the most natural choice for two sons to inherit his estate.

But who chooses to succeed is the key.

Wu Hanjie carried out the power distribution according to the most traditional way of handling: the eldest son was full power and the second son was in charge.

However, despite the tradition, the distribution of power is actually based on the position of the two heirs in the past.

Wu Rongguang, the eldest son, was born in January 1975. He is a member of the Communist Party of China. His first impression is refreshing and capable.

After finishing high school, he went to Shenyang Design Institute, specializing in sports shoes design.

After graduation, I have been doing family business in my father's shoe factory.

The second son, Wu Rongzhao, is different from many rich children. His academic record has been excellent, and he has gone to Fuzhou University to study economics.

After graduation, he chose to go to Australia for further studies.

His learning experience in Australia made him have a clear understanding of the development of foreign enterprises.

When he returned to China, he contacted a number of investment companies and banks in Singapore.

He is deeply aware that to achieve rapid development, enterprises must break through the bottleneck of capital and introduce foreign strategic investors.

And the way of listing will bring greater impetus to the internationalization strategy of enterprises.

The first biggest controversy between Wu Hanjie and the two heirs was the issue of listing.

When Wu Rongzhao first proposed that an enterprise should be listed, the advice from his father and father was that "once an enterprise is listed, it will lose control of the enterprise".

But Wu Rongguang soon expressed support for his brother's idea and finally stood in a trench.

They jointly enlightened their father: "if we can help enterprises become bigger and stronger and become a hundred years brand, it is also worth losing control."

Wu Hanjie finally agreed with them.

Hongxing Erke was listed in Singapore in November 14, 2005.

From the formal pformation of the enterprise to the final listing of the two fate pformation, the foundation of Wu Hanjie's family business kingdom is closely related to his two successors. The two brothers played a different commercial role in the two enterprise pformation: the eldest son Wu Rongguang was in charge of the enterprise strategy and decision-making, while the second son Wu Rongzhao was in charge of financing, brand and so on.

Now, the eldest son Wu Rongguang is the chairman and chief executive of the board of directors of the group, while the second son Wu Rongzhao serves as group director and chief operating officer.

In addition to power distribution, Wu Hanjie also allocated shares according to the contribution of his children to enterprises, and did not equalitarianism.

It is understood that Hongxing Erke after the listing, the family's stake is 40%, Wu Hanjie and eldest son Wu Rongguang each half, and two sons Wu Rongzhao accounted for half of them.

The combination of "soldier" and "airborne troops"

Choosing a good successor is only the first step for Wu Hanjie to complete the pfer of power. In his view, in order to make the enterprise evergreen, we must improve the professional manager system and combine the airborne troops with the "children soldiers".

In his view, business and business, and "soldiers" rely on experience. "Airborne troops" rely on knowledge, and the combination of them is more competitive.

Wu Hanjie's idea was approved by two sons.

In fact, since the establishment of an enterprise in 2000, Wu Rongguang, the eldest son, has begun to recruit professional managers. After listing in 2005, Hongxing Erke began to introduce more high-end professional managers, trying to create an excellent management team to speed up brand development.

Lu Xiao Hu, the vice president of the group, is one of them.

After entering Hongxing Erke, he was mainly responsible for the sales and brand of the two core business teams.

Hongxing Erke is very firm about the introduction of professional managers. In this regard, the views of two young Marshal are unanimously consistent: when the enterprise develops to a certain stage, it must break through the bottleneck of talents, and the solution lies in the introduction of talent strategy. The future development of Hongxing Erke brand is not the efforts of one person, but the painstaking efforts of a team and even a generation. This not only requires wisdom, but also requires bravery, which is also the spirit of "TOBENO.1" advocated by the brand.

In fact, most of the founders focus their attention on the inside of their families while ignoring the manager system.

Wu Hanjie saw this key factor, but the most important thing is his two successors and the importance of the manager system.

The two successors are not superficial to the construction of the manager system. Since 2007, the company's top management welfare fund plan has been officially launched.

Among them, the executive service is full for 5 years, and the maximum can be obtained by 200 thousand yuan for buying a car and buying a car.

Car distribution is not new in Jinjiang, but the ownership of property belongs to the manager himself.