Home » Suning Tesco bids farewell to Zhang Jindong, six non-independent directors replaced by five

Suning Tesco bids farewell to Zhang Jindong, six non-independent directors replaced by five

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In the evening of July 29,Suning Online Marketreleaseannouncementsay,Suning Online MarketThe new board of directors is formed and appointed by Huang Mingduan, the former chairman of RT-Mart nominated by AliSuning Online MarketNew chairman.

The board of directors appointed Ren Jun as the company’s president, and Hou Enlong, president of the company’s retail business line, no longer performed the duties of the president; at the same time, it revised Article 7 of the company’s articles of association as “the president is the legal representative of the company.”This means that the director of Suning.comChangheThe presidents are all changed. This also marks that Suning.com, as an independent subject, has entered a new era of development.

In his new chairman’s speech, Huang Mingduan first expressed his gratitude to the government’s support and help, strategic investors and industrial investors’ trust, and paid tribute to Suning Tesco’s founder Zhang Jindong for his important contributions to the company’s development.

“The problems encountered by Tesco must be resolved through the cooperation of all parties; the opportunities at Tesco must be solved by everyone’s concerted efforts.” At the board of directors that day, Huang Mingduan further clarified that Suning Tesco’s strategic direction is to “focus on retail “The three major strategic paths are: being a good retail service provider, strengthening the supply chain, and improving the quality of operation.

On the same day, Suning.com announced that it had elected Huang Mingduan, Xian Handi, Cao Qun and Zhang Kangyang as non-independent directors. In addition, director Xu Hong applied for his resignation as a director and a member of the strategic committee of the board of directors due to personal reasons; Liu Peng, nominated by Taobao China, was elected as a non-independent director candidate.

“In less than a month, Suning.com has gone from the introduction of strategic investment to the re-election of the board of directors, and then to the release of a clear strategic path.shareholderWork together to jointly promote the determination of corporate governance reform. “People close to Suning.com accepted on the evening of July 29BrokerageThe Chinese reporter said in an interview that the “reinvented” change, the further improvement of the governance structure, the lifting of the liquidity crisis, and the clear business strategy will bring more positive effects to Suning.

Ali nominates Huang Ming to take over “Handsome Seal”

After the introduction of strategic investors, Suning.com became a company with “no actual controller”. On the evening of July 29, Suning.com (002024) announced that the new board of directors was formed. Huang Mingduan nominated by Ali as the new chairman.

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Regarding the future development strategy of Suning.com, after the election, Huang Mingduan said in a speech that Suning.com has built the most completeOnline and offline(50.070,1.90,3.94%) For the retail service system, the next step of development will clarify the three major strategic paths of Suning.com’s “focusing on retail”-to be a retail service provider, to strengthen the supply chain, and to improve the quality of operation.

Huang Mingduan, a native of Taiwan, born in 1955, has a master’s degree in business administration from National Taiwan University. He was the chairman and CEO of RT-Mart. He served from May 2019 to May 2021.Gaoxin RetailCEO of Co., Ltd., appointed asGaoxin RetailChairman of the board of directors of a limited company.IncumbentGaoxin RetailNon-executive director of a limited company.

Huang Mingduan is 66 years old this year.In December last year, Huang Mingduan handed over the position of RT-Mart, who was founded and in charge of RT-Mart for 23 years, toAlibabaLin Xiaohai. In May of this year, Sun Art Retail issued a transfer announcement, announcing that Huang Mingduan had retired at the age of and resigned as the company’s chief executive officer.

In the 1990s, when European and American hypermarkets were rising in Taiwan, Huang Mingduan decided to follow suit. In 1997, he founded RT-Mart in Taoyuan City, Taiwan. In 1998, he entered Shanghai Zhabei to open the mainland market and opened mass merchandise stores in the mainland and Taiwan. , In less than ten years, the annual sales exceeded 100 billion Taiwan dollars, single-store operationPerformanceFar more effectiveWalmartAnd Carrefour.

In 2014, Huang Mingduan turned to enter e-commerce, and RT-Mart’s Feiniu.com was officially launched; in 2017 RT-Mart ushered in Ali’s investment and shareholding; in 2018, large-scale store digital transformation began; in 2019Online and offlineIntegration to promote a new retail model of store-to-home and store-warehouse integration.

Huang Mingduan himself is an active promoter of Ali’s investment in RT-Mart. He once said that one of his greatest contributions to RT-Mart was to persuade the parent company to introduce Ali as a strategic shareholder of RT-Mart.

Therefore, in the eyes of industry insiders, Huang Mingduan, who is already in a “semi-retired” state, was nominated by Ali to take over the post of chairman of Suning.com. It was “after some thought”, “(Huang Mingduan) has rich experience in chain retail He is familiar with offline business and has experience in transforming e-commerce. The resume is sufficient to convince the public and can be accepted by all parties including Zhang Jindong.”

Six non-independent directors replaced five

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According to the company held in the afternoon of the day (July 29)General meeting of shareholdersIn accordance with the voting results of the board of directors, Ren Jun was appointed as the president of the company; at the same time, Article 7 of the company’s articles of association was revised to read “The president is the legal representative of the company.”This means that the director of Suning.comChangheThe presidents are all changed.

The new president Ren Jun, Chinese nationality, was born in 1977 and has a bachelor’s degree. He has served as vice president and secretary of the board of directors of Suning.com, and is currently the chairman and director of the company’s executive committee.

On the same day, Suning.com announced that it had elected Huang Mingduan, Xian Handi, Cao Qun and Zhang Kangyang as non-independent directors. In addition, director Xu Hong applied for his resignation as a director and a member of the strategic committee of the board of directors due to personal reasons; Liu Peng, nominated by Taobao China, was elected as a non-independent director candidate.

On July 29, due to the company’s work arrangements, Meng Xiangsheng applied in writing to resign as the company’s senior vice president and ceased to serve as a member of the company’s executive committee. At present, Meng Xiangsheng holds 4,223,649 shares of the company’s stock, and his shares will be managed in accordance with relevant regulations after he leaves office.

As a result, Zhang Jindong’s two capable officers, Sun Weimin and Meng Xiangsheng, left the day-to-day management management one after another. Among the original six non-independent directors of Suning.com, except for Ren Jun, the rest all withdrew. Xu Hong from shareholder Ali was replaced by Liu Peng.

According to the information, Liu Peng (Owen), born in 1976, was originallyAlibabaVice President, Tmallimport and exportBusiness group president, joined in early 2015AlibabaHe served as the general manager of the Tmall import and export business department and was promoted to the president of the Tmall import and export business group in 2019.

However, before entering the Ali system, Liu Peng was one of Zhang Jindong’s former subordinates.The public resume shows that Liu Peng worked at Haier from 1998 to 2007Executives, During 2007-2011, he was in charge of mobile phone, white appliances, black appliances and key customer departments at Suning Appliance. From 2012 to 2013, he served as the vice president in charge of purchasing at Metro’s Wonder City China. From 2013 to 2015, he worked at Goodbaby China Business Group. Served as vice president.

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Alibaba takes the lead, intends to offline resources and home appliance retail

The list of the board of directors was generally interpreted by the market as the result of the game between the shareholders’ Ali and Suning. Starting from the personnel level, Alibaba and Suning.com have begun to bind.

According to the previous partiesEquity transferAccording to the agreement, Zhang Jindong and his concerted person Suning Holdings holds 20.35%, Taobao China holds 19.99%, and Jiangsu New New Retail InnovationfundThe second phase holds 16.96%, and the New New Retail Innovation Fund holds 5.59%. Among them, Alibaba directly and indirectly holds more than 24% of Suning’s equity and is already the largest shareholder.

“A week before the shareholders’ meeting, Alibaba has appointed a number of managers to enter the Suning system.” According to a person close to Suning’s equity adjustment, through “the top leaders of each department of Suning remain in place, but under this person in charge , Another “consultant” appointed by Ali will act as “deputy”, and the two systems will run the current Suning business temporarily in parallel.”

This also means that Suning.com may also face shocks in the core business backbone.

At present, Suning’s internal CFO is former Maoning (Suning Tesco’s flagship store in Tmall), the chief financial officer, and CHO also comes from Alibaba’s personnel system. According to the person familiar with the matter, Alibaba’s rectification of Suning is mainly at the level of the listed company’s Suning Tesco business, which separates and subdivides all businesses that have nothing to do with the listed company.

At the business level, Kuang Yuqing, the research founder of Lens Corporation, a third-party research institution, believes that “from the perspective of Suning’s overall business, there is hope for revitalization of the retail side. There is room for collaboration and integration of the businesses of RT-Mart, Carrefour, and Suning hypermarkets.” In the coming days, Alibaba will take over Suning this time, focusing on Suning’s offline resources and home appliance retail market share. It will not tilt online resources, and intends to complement the offline sector of home appliance retail with Suning’s offline resources.

At the shareholders’ meeting, Ren Jun, the new president of Suning.com, stated that under the strategic premise of focusing on retail, two things must be done: one is to further consolidate and highlight the three core forces, supply chain, logistics services and scene experience; Restructure the organization, technology, and operation of retail service providers in a more open way to better serve users and partners.

(Source: Brokerage China)

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