Reborn Xiangjiang as a Tycoon

Chapter 129 Stabilizing Management (Part 1)

In the afternoon, Lin Baicheng brought Cheng Yufeng and financial people to Hutchison Whampoa.

Hutchison Whampoa's management, headed by Wei Li, welcomed Lin Baicheng's arrival, at least on the surface, and the group went to the conference room.

"Everyone, although you should all know who I am, I think I still need to introduce myself. I am Lin Baicheng. I am the boss of Galaxy Games and Asia Television. I am also the largest shareholder of Hutchison Whampoa."

When Lin Baicheng said this, Cheng Yufeng distributed copies of Lin Baicheng's shareholding certificate to Wei Li and others.

After reading it, Wei Li and others knew that these were true, and Lin Baicheng was indeed the company's largest shareholder now.

While Wei Li and the others were looking at the copy, Lin Baicheng continued: "With the shares I hold, I will automatically obtain a director seat in the company and be elected as the company's chairman. I hope everyone here can support my management.

A good company and will develop the company under my decision-making."

"Mr. Lin."

We had already introduced him when we met before, so Wei Li did not introduce himself again this time. He said: "As for the development of the company, we have made relevant plans. Once the company's development direction is changed, it may have a negative impact on the company's development.

Impact. I think Mr. Lin, you don’t want what the newspaper said to happen. After Mr. Lin took control of the company, the company’s development became worse and worse.”

Vice President Richard Xin also said: "Mr. Lin, we will definitely support you in managing the company well, but the company's development and growth does not happen overnight. Now the company's development has just improved, and it is best to maintain the original development plan.

choose."

Management such as Xia Boyin and Wei Peter also nodded in agreement.

Lin Baicheng was not surprised when he saw this. For a listed company, becoming the largest shareholder does not mean that you can immediately control the company. You also have to control the company's board of directors.

If the shareholding ratio is high, the shareholders' meeting is in control, but the shareholders' meeting cannot be held several times throughout the year. The board of directors is different. The board of directors is responsible for managing the company, and the management is naturally managed by the board of directors.

At the same time, the management usually has several people serving as directors on the board of directors. For example, Hutchison Whampoa has a total of nine directors: President Wei Li, Vice President Richard Chaxin, Vice President Chen Xinghan, Xia Boyin who is in charge of business, and Xia Boyin who is in charge of human affairs and government affairs.

These five people, Peter Wei, are all directors on the board of directors.

Once there is management support, major shareholders can easily control the company's board of directors and thus control the company.

Of course, this does not mean that the largest shareholder cannot control the company without the support of management. This is impossible, but it will not be so smooth. It will take time to slowly replace the directors on the board of directors with their own people, and then pass

The board of directors arranges its own people in the company so that it can slowly take control of the company, which takes a lot of time.

Lin Baicheng is not prepared to spend so long taking control of the company. What he has to do is to get the support of Hutchison Whampoa's management. After all, if he fires these managers, he will have to look for talents outside for Hutchison Whampoa. In this way, Hutchison Whampoa will definitely spend a lot of money.

It will take a long time to return to normal development.

Moreover, Wei Li and others are indeed talented people. Wei Li was able to develop Hutchison International, which was on the verge of bankruptcy, and merged it with Whampoa Dockyard to form the current Hutchison Whampoa. The company has a market value of nearly 3 billion Hong Kong dollars. There is no doubt about his ability.

, and the capabilities of other management teams are also not bad.

Lin Baicheng is ready to see if he can stabilize the management such as Wei Li and let them develop Hutchison Whampoa under his general plan. If so, it would be best. Wei Li and others will continue to manage the company, and Lin Baicheng will obtain a large number of talents; if not, then only

It is regrettable that we can slowly fire Wei Li and others, and replace Hutchison Whampoa's management smoothly.

"This is the first proposal I will submit after becoming the chairman of the board of directors of Hutchison Whampoa. Please take a good look at it. I hope to get your support by then, just as you will support me in the development of the company in the future."

Lin Baicheng nodded to Cheng Yufeng as he spoke. Upon seeing this, Cheng Yufeng took out some documents and distributed them to Wei Li and other senior executives, one copy for each person.

This is a proposal about an equity incentive plan. Company management, outstanding employees, and employees who have made important contributions to the company are all within the scope of benefits of the incentive plan.

The proposal proposes that the company should spend 20% of the previous year's net profit every year to purchase the company's stock. This part of the stock will be managed uniformly as an incentive for management and outstanding talents. Each person will receive different stock incentives based on their contribution.

, until the incentive plan acquires 5% of the total share capital.

Only when the company makes money every year can 20% of the net profit be used to buy company stocks. Those who receive equity incentives have a limited sales period for their stocks. They are not allowed to sell stocks within three years after receiving stock incentives, voluntarily leave their jobs or due to gross negligence.

If you are fired from the company, the employee's incentive stock will be withdrawn, among other restrictions.

In Lin Baicheng's proposal, if management and outstanding employees want to obtain stock incentives, they must develop the company well and be prepared to stay in the company for several years. Otherwise, it is meaningless to receive incentive stocks.

"This is really attractive!"

Looking at the bill in his hand, Wei Li admitted that he was moved. He wished that the stock incentive bill would be passed immediately.

As the president of Hutchison Whampoa, Wei Li's salary is not low, and when he was invited to become president, he also received an incentive contract with an annual net profit of 2.5% for five years. Based on last year's net profit of Hutchison Whampoa

Counting 100 million Hong Kong dollars, this incentive contract brought him a reward of 2.5 million Hong Kong dollars. With annual salary, his income exceeded 3 million Hong Kong dollars.

The annual income exceeds 3 million Hong Kong dollars, which is very high, but Weili knows very well that the reason why he had such good profits last year was because he sold a large number of the company's short-term investments and recovered a large amount of funds. Otherwise, it would be good if he did not lose money.

More importantly, the incentive contract expires in 1980, and this year is already 1978.

However, in the proposal proposed by Lin Baicheng, the company provides up to 5% of the stock incentive for management and outstanding talents, which is 20 million shares. This incentive plan is not distributed equally, but based on contribution. As the president, Wei Li distributes

The number of shares received is definitely one of the largest.

As long as Weili can get 1 million shares of stock incentive, it will be equivalent to him getting about 7 million Hong Kong dollars for free. If the company develops better and better, his stocks will become more and more valuable.

As the CEO with the highest income, Wei Li was moved, not to mention the others. Everyone present knew the benefits of this incentive plan to them, and no one would have trouble with the higher income.

(Please subscribe for support! Please support by monthly ticket!)

(End of chapter)