The Birth of Shanghai's First Conglomerate

10 month 26 number.

Tengying Group officially announced that Gao Hu, the former founder and president of Feiyangyang Catering Group, has been removed from his post.

I have submitted my resignation to the group for personal reasons.

It was formally approved by a resolution of the group's board of directors.

What does this mean?
There was no word of a successor, and the founder and president resigned.

It is a traditional catering company that has been listed for less than two years.

It has to be said that Boiling Sheep has had a lot going on these past two years, and he hasn't even gotten over the Shacheng incident yet.

Now even the CEO has left.

That is to say, its stock price has been at a historical low. Otherwise, under such circumstances, it would have dropped by several limit-down days.

Boiling Sheep's finances are fine, and its operations have remained stable.

As a result, the CEO resigned.

Anyone who has worked in a large company knows that these so-called "personal reasons" for resigning senior executives are common.

They were basically all optimized, but the group just gave them a decent slogan before they left.

Otherwise, who would leave their newly established company like this?
In addition, the group's top management released the resignation report of the president of Fei Yang Yang this morning.

In the afternoon, another shocking dismissal report was released, one that reverberated throughout the entire industry.

Huang Kai, former head of the Guangdong region of Boiling Sheep; Cai Peng, head of the Southern Province region; Liu Min, head of the Beijing region; and Huang Jiawen, head of the Shanghai region.

The heads of the Boiling Sheep Catering Academy were all dismissed from their posts.

They didn't even receive basic severance pay.

In a single day, the founder of a listed company with assets exceeding 10 billion yuan was fired, along with the heads of four major regions and the founder of a training institution.

What is this concept?
It's like uprooting your entire top management team.

Now it doesn't matter whether it's in a trough or not; after a short-term fluctuation, the stock price of Boiling Sheep will be back to normal.

An avalanche immediately began.

Countless retail investors who bought shares in Boiling Sheep even believed that they had bought a cursed junk stock.

You thought it was in a period of undervaluation, but one blow after another tells you that the real undervaluation is far from being realized.

It is clearly a domestic giant catering group with as many as 1500 directly operated stores.

The investment in these directly operated stores alone is no less than three or four billion yuan.

Business is operating normally and doing very well.

The same goes for market reputation; as a result, the market value of less than eight billion continued to decline.

What the hell is this if not possessed by an evil spirit?
Even Lin Qiunan, who was attending classes at the University of Finance and Economics, was completely surprised. She never expected that the incident would have such a huge impact.

It could even lead to a listed catering company being delisted.

Furthermore, six senior executives were dismissed, and even the founder was not spared.

The entire Tengying Group fell silent in fear.

They offered no further explanation to the public, and this was merely the first batch of senior executives implicated.

The next day.

Tencent Pictures has issued another public announcement.

The head of the Human Resources Department of Tengying Group wields unimaginable power, making him an object of fervent flattery and obsequiousness.

He was also directly dismissed during this rectification.

Along with her own team of senior HR executives, they were all dismissed.

It's obvious that she knew about it.

However, due to Gao Hu's relationship with the big boss, they chose to turn a blind eye.

As a result, some of her subordinates also faced dismissal.

Not only was she fired, but Chu Qiuyan, the college entrepreneurial goddess and the group's head of external campus recruitment, was also fired.

The annual bonus will be deducted, and the individual will resign from their position as a group partner.

That's equivalent to a direct drop of three levels.

She had no complaints, after all, the incident happened during her campus recruitment.

The origin of this matter is quite mysterious.

On one occasion, Gao Hu happened to come across the group's campus recruitment conference during his leisure time.

One of the girls immediately caught his attention.

That girl was very pure and innocent. While she wouldn't say she was stunningly beautiful, she was certainly one of the best among the school's beauties.

She looks especially beautiful when she smiles.

Gao Hu was immediately struck by the girl's warm smile, and then a worldly-wise HR person guessed his hidden thoughts with just a glance.

After the campus recruitment fair ended, the girl had actually been hired.

However, this HR person used their power to secretly intercept her resume.

Then call her again to tell her to meet at the coffee shop; there's no need to be so explicit about what happens next.

A clever HR person pleased Gao Hu in this way.

Gao Hu himself is quite loyal, and as the saying goes, he shares both good times and bad. He also brought along the group of executives who had fought alongside him to build the empire.

The benefits that clever HR person gained are self-evident.

Gao Hu gave him a Porsche Cayenne directly.

Others also gave small red envelopes, as the saying goes, there are no secrets within a group.

Especially considering that so many executives from Boiling Sheep were involved.

Later, Tang Tao, the vice president of Tenghui Department Store, the two presidents of Snack Run, and two senior executives from Bobo Milk Tea and Deer Horn Coffee all got involved.

With the help of Gao Hu and a series of other senior executives in the group, that clever HR person also rose through the ranks.

The scope of this matter is also expanding.

It wasn't discovered until today, and then came a storm of executive dismissals that shocked the entire industry.

It's important to understand that the major companies under Tencent Holdings are all listed groups, with tens of thousands of shareholders, not to mention the number of employees. With such a massive personnel upheaval, everyone wants to know one thing.

What happened in the end?
It was October 28th.

Tengying Group even issued an announcement stating that there are more than eight vice presidents from Bobo Milk Tea, Deer Antler Coffee, and Tenghui Department Store.

They were all dismissed from their posts.

As a result, the head of their own group's human resources department was also laid off on a large scale.

No one expected that the incident was caused by a HR person who thought he was being clever.

He's really something; he single-handedly took down nearly twenty veteran executives from the group.

Chen Pingsheng went further and issued a serious statement within the group, stating that personal relationships are not a means of running a private enterprise; they will only lead the company into an endless abyss.

Beyond the release of statements, an even larger corporate storm is still unfolding as scheduled.

An internal investigation report initiated by the Tengying Group Economic Research Institute has sent countless senior executives into a panic.

In the early stages of starting a business, everyone involved, driven by dreams or a desire to make money, tends to be highly perceptive of the market, even wary of it.

As the companies supported by the group went public one after another, the executives who originally started the business with them achieved financial freedom.

This leads to a relaxation of vigilance and a reduction in the amount of time one spends working hard.

They even indulged their own selfish desires, which led to the shocking "Tengying Concubine Selection Group" incident that rocked the entire group.

In other words, Tengfei New Energy was independent and didn't have much contact with Gao Hu and his group, otherwise it certainly wouldn't have been possible to avoid this.

Going public does not mean that a company can rest on its laurels. On the contrary, given the current economic situation, it would be a mistake to allow this trend and situation to spread throughout the entire group.

Even the largest tree will be in grave danger.

The Tengying Industrial Economics Research Center not only brings together professors from dozens of top universities in China.

It also brings together more than 20 leading economists from home and abroad.

Their task is not only to study global industries, but also to keep a close eye on the group's internal personnel management.

This allows the group to continuously optimize its operations to adapt to the market.

It is clear that Tencent is moving from a startup to the highest level of China's private economy.

Those veterans who fought alongside it and helped it develop are already thinking about resting on their laurels.

This is an extremely dangerous signal.

Whether Chen Pingsheng likes it or not, he must make a complete change before this economic turning point arrives.

As the saying goes, "A kind heart cannot command an army, and a benevolent person cannot amass wealth."

He now has to optimize a large number of the veterans who fought alongside him.

Only by providing positions and pathways for truly young, passionate, and hardworking individuals to advance can the group maintain its vitality consistently.

Zhang Wanyi brought a personnel survey form and handed it to him. "Uncle Chen, there are 1,652 senior executives at level 12 who have worked in the group for more than three years and are over 35 years old."

Chen Pingsheng took it and looked at it, then said, "So many familiar names. I still remember the determined and fighting spirit in their eyes when they first came to the group. I never thought that in just a few years, a large part of them would have lost that fighting spirit."

"Let's launch an internal personnel investigation report and complete the optimization of senior management within half a month."

A major storm is really coming.

The big boss is planning to get rid of those senior executives who have lost their fighting spirit.

These people who are passively optimized have two options: either they take a sum of money and leave the group.

Alternatively, one could start all over again from the bottom.

Regardless of the final outcome, such a large-scale optimization of senior management is a significant achievement.

It will still cause a shock to the domestic workplace.

Even more outrageous, countless people will start to condemn Tencent Group for being ungrateful and discarding its benefactors.

When the birds are gone, the good bow is hidden.

These people probably don't understand the big boss's kindness.

Compared to these senior management teams, Tencent Film Group's grassroots employees number over one million.

If so many senior executives are allowed to comfortably rest on their laurels, that would be the greatest harm to the millions of grassroots employees.

Many companies, for the sake of the interests of their senior management team, think of firing lower-level employees first when they talk about optimization.

I don't know.

The real culprits behind poor business performance are the executives who sit in their offices drinking tea and enjoying the cool air conditioning.

If these people aren't optimized, frontline employees will never receive preferential treatment.

Chen Pingsheng's kindness can only be reserved for those grassroots employees who are still struggling to make ends meet.

Ruthlessness can only be reserved for high-level executives and tycoons who have started to enjoy life and already have millions in savings.

These people will definitely blame him.

But... so what can we do?

Executive optimization reports are particularly simple, just like how only the students know whether a teacher is good or not.

Whether a general is good or bad, his soldiers will know it very well.

Asking questions from the bottom up is the best way to understand a leader.

When more than a third of his team speaks ill of him, that person has no choice but to be fired.

More than half of the people said he was bad, yet he was still able to stay in his position for more than six months.

The leader who promoted him will be fired immediately.

It's that simple; there's no need for complicated methods.

Chen Pingsheng's goal was to eliminate, once and for all, those managers who were fond of social niceties and whose core job was to please their superiors.

Completely remove from Tencent Film Group.

His company has always believed in investigating from the bottom up.

Once power is excessively concentrated in the hands of the senior management team from the top down.

Then the entire group will be about interpersonal relationships and social niceties.

(End of this chapter)