Meng Wanzhou becomes Huawei's rotating chairman! Will he succeed Ren Zhengfei in the future?

On April 4, according to the latest information on Huawei's official website, Huawei CFO Meng Wanzhou has succeeded Guo Ping as Huawei's rotating chairman, rotating with Ken Hu and Zhijun Xu. Guo Ping became chairman of Huawei's supervisory board.

△Screenshot of Huawei's official website

In response, Huawei's official response said: "The company is committed to optimizing and improving the internal governance structure to make the company's foundation permanent, and this change of the supervisory board is an orderly progress of corporate governance in accordance with the charter." ”

Meng Wanzhou became Huawei's rotating chairman

On April 4, Huawei announced that it had completed the election of the board of supervisors and elected the chairman, supervisors, and alternate supervisors of the board of supervisors.

Huawei's current Board of Directors are: Liang Hua, Xu Zhijun, Hu Keng, Meng Wanzhou, Wang Tao, Yu Chengdong, Xu Wenwei, He Tingbo, Ren Zhengfei, Tao Jingwen, Yan Lida, Li Jianguo, and Bloomberg.

△Member of Huawei's Board of Directors

The current members of Huawei's Board of Supervisors are: Guo Ping, Ding Yun, Li Jie, Yao Fuhai, Li Yingtao, Chen Lifang, Song Liuping, Ren Shulu, Li Dafeng, Tian Feng, Peng Zhongyang, Shi Yanli, Yang Li, Ma Qingqi, and Lu Ke.

△Member of Huawei's Board of Supervisors

Based on the completion of this reshuffle, the latest update of management information on Huawei's official website shows that Guo Ping is no longer the rotating chairman of Huawei, CFO Meng Wanzhou has become the rotating chairman of Huawei, and he is on the same rotation with Ken Hu and Xu Zhijun, Guo Ping has been transferred to the chairman of Huawei's supervisory board, and Ding Yun (formerly chairman of the carrier business), one of Huawei's original three executive directors, has been adjusted to be the vice chairman of Huawei's supervisory board.

According to Huawei's official website, Huawei implements collective leadership at the governance level, and the board of directors is the highest responsibility for the company's strategy, operation management, and customer satisfaction. The Board of Directors and its Standing Committee are chaired by the rotating chairman, who is the highest leader of the company during his current duties, and the rotating chairman is rotated for six months.

Huawei announced that according to the company's rotating chairman system, Ken Hu will be the rotating chairman from April 2022, 4 to September 1, 2022. Since Meng Wanzhou is replaced by Guo Ping, her first rotation period should or will be April 9, 30 to September 2023, 4.

According to the data, Huawei's supervisory board is the company's highest supervisory body, exercising supervisory power on behalf of shareholders. The Supervisory Board is positioned to be responsible for the survival and destiny of the company, and its basic responsibilities include leadership management, business review and strategic foresight.

The members of the Board of Supervisors shall be elected by the Shareholding Employee Representative Committee and voted by the shareholders' meeting. The Board of Supervisors shall establish a Standing Committee, which shall carry out daily work under the authorization of the Board of Supervisors.

A Huawei spokesperson said that the company is committed to optimizing and improving the internal governance structure to make the company's foundation a long-lasting business, and the change of the supervisory board is an orderly progress of corporate governance in accordance with the charter.

Meng Wanzhou has been with Huawei for 29 years

According to Huawei's official website, Meng Wanzhou graduated from Huazhong University of Science and Technology with a master's degree. He joined Huawei in 1993. He has served as the company's international accounting director, chief financial officer and president of the accounting management department of Huawei Hong Kong. He is currently the vice chairman, rotating chairman and CFO of the company.

Since 2003, Meng Wanzhou has led the establishment of a globally unified Huawei Finance organizational structure, processes, systems, and IT platform. From 2007 to 2014, Meng Wanzhou implemented the IFS (Integrated Financial Services) reform at Huawei around the world, making refined management one of Huawei's sustainable growth genes.

In 2014, Meng Wanzhou led Huawei's data transformation and established a sound data management system to achieve "counting out of holes" and making data a strategic asset of the company. During the same period, she enabled the financial organization to become a business partner and value integrator through transformation projects such as financial reporting internal control, account consistency, fund management and tax management, and supported the rapid and steady development of the company's business in the world.

Since 2019, in line with the company's strategic foresight and long-term development plan, Meng Wanzhou has built an overall blueprint for financial digitalization. Through risk probes and risk control models, a contactless risk control system was established; Establish an agile management system, based on data and AI algorithms, to realize intelligent operation management and decision-making; Establish an integrated financial and economic operation command platform, based on data transparency and real-time interaction, to achieve coordinated operations and three-dimensional command in key financial operation scenarios.

Huawei said that under the leadership of Meng Wanzhou, Huawei Finance has become the world's leading digital and intelligent financial organization, creating a solid and reliable business foundation for Huawei and helping the company realize its strategy in the new era.

It is worth mentioning that on December 2018, 12, Meng Wanzhou was detained in Vancouver, Canada due to allegations by the United States, and the United States requested her extradition from Canada. In subsequent Canadian court hearings, Meng Wanzhou was successfully released on parole.

On September 2021, 9, Meng Wanzhou reached an agreement with the US judiciary to defer prosecution, and the US side notified the Canadian court to withdraw the extradition request. The Canadian court immediately terminated the extradition process, waived all bail conditions for Meng Wanzhou, and announced her release. On September 24, Meng Wanzhou returned to China on a plane chartered by the Chinese government.

On March 2022, 3, Huawei held the 28 Annual Report press conference, and Meng Wanzhou once again made a public appearance as Huawei's CFO to introduce Huawei's financial situation.

According to Huawei's 2021 annual report, Huawei achieved global sales revenue of RMB 2021.6368 billion and net profit of RMB 1137.75 billion in 9, a year-on-year increase of 2021.1427%. It is worth mentioning that Huawei continues to increase R&D investment, reaching RMB22.4 billion in 8450, accounting for <>.<>% of annual revenue, and the cumulative R&D expenditure in ten years exceeded RMB<> billion.

Meng Wanzhou said at the meeting: "Our (revenue) scale has become smaller, but our profitability and cash flow acquisition capabilities are increasing, and the company's ability to cope with uncertainty is constantly improving." "Thanks to the improvement in the profitability of its main business, Huawei's operating cash flow increased significantly in 2021, reaching RMB597.57 billion. The gearing ratio has been reduced to 8.<>%, and the resilience and resilience of the overall financial structure have been strengthened.

Regarding the news that Meng Wanzhou is the rotating chairman of Huawei, there are views from the outside world that Meng Wanzhou may officially succeed Ren Zhengfei in the future.

Previously, in response to the future development of her daughter, in February 2019, Huawei founder Ren Zhengfei said in an exclusive interview with the BBC, "Meng Wanzhou will never be able to be a successor, because she has no technical background, and I cannot fully see the development trajectory of my children from the perspective of my father." ”

However, Ren's statement came after Meng Wanzhou was detained in Canada at the time. After more than 1000,<> days in detention, with Meng Wanzhou's successful release and return to China, Meng Wanzhou's reputation in China and within Huawei has reached a new height.

Ren Zhengfei is currently 77 years old, and retirement may be on the agenda as he ages. And Meng Wanzhou may become Ren Zhengfei's real successor.

Editor: Xinzhixun-Lin Zi Comprehensive source from the Internet