Liang Wengen resigned as chairman of Sany Heavy Industry xiang Wenbo to take over

Screenshot of the announcement.

Red Net Moment January 20 (reporter Tang Jieqiong) On the evening of January 19, Sany Heavy Industry issued a heavy announcement on the change of coach, which aroused great concern in the capital market. According to the announcement, Liang Wengen resigned as chairman of Sany and a special committee of the board of directors, and the board of directors elected Xiang Wenbo and Yu Hongfu as the chairman and vice chairman of the company respectively, and hired Yu Hongfu as the president of the company.

The announcement said that at present, the business of Sany system is booming, in order to seize the opportunity of industry development and change, reduce daily work affairs, further improve the level of corporate governance, and improve the company's professional manager development mechanism, Liang Wengen hopes to invest more energy in the future strategic transformation of Sany. At the current meeting of the board of directors, Liang Wengen hereby applied to resign as the chairman of the company, and at the same time resigned as the chairman of the strategy committee, the member of the remuneration and appraisal committee and the member of the nomination committee of the board of directors; his resignation report took effect from the date of delivery to the board of directors of the company. After this resignation, Liang Wengen will continue to serve as a director of the company.

As the founder of the company, Liang Wengen has served as the chairman of the company for a long time, and during his tenure, he has worked hard, fulfilled his duties, and been diligent and conscientious to promote the high-quality development of the company and lead Sany to become a leading enterprise in the global construction machinery. As the actual controller and director, Liang Wengen will still be highly involved in and pay attention to the development of Sany Heavy Industry, and concentrate more energy on considering the company's long-term strategy and development opportunities.

Xiang Wenbo has previously served as the president of Sany Heavy Industry, with outstanding business performance and operating ability, which has been highly recognized by the company, the market and society, and has made outstanding contributions to the development of Sany. According to the data, Xiang Wenbo was born in 1962, graduated from Hunan University in 1982, is one of the elders of the Sany Department, entered the Sany Department in 1991, successively in charge of production, marketing business, etc., during his tenure has been awarded a number of awards, in 2007 was elected as the top ten leaders of China's manufacturing industry, in 2009 by the China Securities Market Research and Design Center awarded the annual China Top Ten Private Enterprise Leaders honor, and by the China Machinery Industry Federation and the China Machinery Enterprise Management Association awarded the National Machinery Industry Star Entrepreneur. From 2010 to 2011, he was awarded the 2010 Best CEO of Forbes in China and the Best CEO of A-share Non-state-owned Listed Company in 2011.

Yu Hongfu has long served as the chairman of Sany Heavy Machinery, promoting the improvement of the global competitiveness of the company's excavation machinery, becoming the global sales champion, and making significant contributions to the development of Sany Heavy Machinery. Before joining Sany, Yu Hongfu served as the general manager of Atlas Construction Machinery Co., Ltd., the deputy secretary-general of the Excavator Branch of the China Construction Machinery Industry Association, the third vice chairman of the Excavator Branch of the China Construction Machinery Industry Association, the seventh chairman of the Excavator Branch of the China Construction Machinery Industry Association, and the technical quality expert of the Technical Quality Committee of the National Construction Machinery Industry Technical Quality Information Network, etc., with more than 30 years of experience in the machinery industry.

After more than 30 years of development, Sany Heavy Industry has grown into a leader in China's construction machinery industry. Sany Heavy Industry's financial report shows that in the first three quarters of 2021, the company achieved operating income of 87.718 billion yuan, an increase of 20.34% year-on-year, and achieved a net profit attributable to the mother of 12.57 billion, an increase of 0.9% year-on-year. With the resignation of the company's founder Liang Wengen as chairman, it also means that Sany Heavy Industry has begun a new stage.