Gome's Board Reorganized Management.

Over the past year, the dispute between Chen and Huang of Gome is expected to end. Yesterday held Gome At the annual general meeting of electrical appliances shareholders, 8 motions, including personnel changes of board of directors and authorization of new issuance of new shares by the board of directors, were voted through. Wang Junzhou, the current president and vice president Wei Qiuli, once considered a "centrist", will no longer serve as a director and return to the role of professional manager. Huang Yanhong, the current non-executive director, will also withdraw from Huang Yanhong. Administration Layer.

At this point, the adjustment of Gome management framework should come to an end. Policy decision The layers are officially "on their own".

Less than a year, 9 people in and out.

It is reported that in the 8 bills, except for the board's issuance of the motion with a 76.99% approval rate, the rest of the motions were approved by more than 95% of the approval rate.

According to the latest resolution, the board of directors of Gome will be composed of 11 people from the original 13, including non-executive director and chairman of the board, Zhang Dazhong, executive director Zou Xiaochun, Wu Jianhua, non-executive director Zhu Jia, Ian Andrew Reynolds, Wang Lihong, independent non-executive director Li Gangwei, Wu Wei Xiong, Thomas Joseph Manning, Shi Xiping, and Shi Xiping. Wu Weixiong, who has just been elected director, is a lawyer and partner of Hongkong law firm and notarial company.

It is worth mentioning that Wang Junzhou and Wei Chi Li will continue to serve as president and vice president after he withdrew from the board of directors. The intersection between Gome management and the board of directors will be smaller. He Yangqing, a spokesman for Gome, said that separating decisions from execution would be more conducive to the development of the company. This not only conforms to the strategic requirements of the company, but also gives full play to the expertise of the management team.

Looking back on the outbreak of the dispute between Chen and Huang last year, the Wong Kwong Yu family, headed by Chen Xiao (micro-blog), reached a settlement in November last year. Wong Kwong Yu's agent Zou Xiaochun and Huang Yanhong entered the board of directors and expanded to 13 people. After Chen Xiao and Sun Yiding announced their departure and the chairman of the board took over from the board, after the election, the board of directors of Gome exchanged 9 people in less than a year.

It also led to the outside world questioned whether there is greater exchange of blood between Gome executives. In response, Zhang Dazhong, chairman of the board of directors of Gome, said: "according to the provisions of the company's listing in Hongkong, every year's shareholders' meeting will have 1/3 directors to be re elected, and the election of this board will be 3 to 2, and there will be 11 directors in the board of directors. The current structure is the result of consultations among the management, management and major shareholders of the company. It is a very stable framework."

Re issue of new issue of new shares

It is worth mentioning that the motion passed yesterday also includes the issuance of new shares authorized by Wong Kwong Yu, a shareholder previously proposed by the major shareholder.

As we all know, Gome has also authorized the board of directors to decide to issue 20% of the shares of the company. But later at the "9.28" shareholders' meeting, Wong Kwong Yu proposed the motion to withdraw the authorization and passed.

However, it seems to have learned from the experience that Chen Xiao had threatened to dilute the shareholding of large shareholders last time. The number of authorized issuance of shares has been controlled at 5%, far below the previous 20% and will also give the board of directors the power to repurchase shares of the company.

It is understood that if the board of directors receives the repurchase authorization and is implemented by the ceiling, then the shareholding ratio of Wong Kwong Yu, the major shareholder of the company, will be raised from 32.19% to 35.77%, which will further enhance the right to speak.

Unlisted stores injected into the government

In October 2010, Zou Xiaochun once said on behalf of one of the major shareholders of Gome, "we are negotiating with Bain and Chen Xiao to negotiate a package of legally binding solutions." According to its disclosure, the "package plan" discussed by all parties mentioned above includes many problems such as the future operation and development strategy of Gome, the reasonable seats for major shareholders in the board of directors, and the unified operation of unlisted stores.

With the exchange of the board of directors of the Gome, the majority shareholders now occupy the majority of seats in the board of directors (the bain camp is 4), the "Huang family camp" is 6, and the other is the newly elected Wu Weixiong.

According to media reports, in order to get support from Bain investment, Wong Kwong Yu family has made a commitment to "inject non-listed company stores into listed companies by 2012".

Although neither side responded to the incident, Gome's chief financial official said yesterday that the issue of unlisted stores being injected into listed companies has been communicating with shareholders, and has been actively promoting this matter, but the whole process involves the issue of government approval. "The company is currently in contact with the Ministry of Commerce, hoping to complete the injection as soon as possible, but ultimately depends on the approval of the government."

It is reported that Gome plans to open 480 new stores this year, but in the first quarter, there are only 37 new outlets for listed companies. Zhang Dazhong responded by saying that in the 480 new stores in the year, the number of listed companies will be around 260, although only more than 30 of them belong to listed companies in the first quarter, but the prime time for opening stores is April, September and December.