Abstract: On April 2, according to the latest information on Huawei's official website, Meng Wanzhou, the daughter of Huawei's CFO and Huawei founder and president Ren Zhengfei, has succeeded Guo Ping as Huawei's rotating chairman, and co-rotated with Hu Houkun and Xu Zhijun. Guo Ping was transferred to huawei's supervisory board.
On April 2, according to the latest information on Huawei's official website, Meng Wanzhou, daughter of Huawei CFO and Huawei founder and president Ren Zhengfei, has succeeded Guo Ping as Huawei's rotating chairman, and co-rotated with Hu Houkun and Xu Zhijun. Guo Ping was transferred to 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 evergreen, and the change of the board of supervisors is a work that promotes corporate governance in an orderly manner in accordance with the charter." ”
Meng Wanzhou became Huawei's rotating chairman
On April 1, Huawei announced that the company completed the election of the board of supervisors and elected the chairman of the board of supervisors, supervisors, and alternate supervisors.
Huawei's current board members are: Liang Hua, Xu Zhijun, Hu Houkun, Meng Wanzhou, Wang Tao, Yu Chengdong, Xu Wenwei, He Tingbo, Ren Zhengfei, Tao Jingwen, Yan Lida, Li Jianguo, and Bloomberg.
△ Member of the board of directors of Huawei
The current supervisory board members of Huawei 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 Zhenzhen, and Lu Ke.
△ Member of Huawei's Supervisory Board
Based on the completion of this change, the latest updated management information on Huawei's official website shows that Guo Ping is no longer huawei's rotating chairman, CFO Meng Wanzhou has become Huawei's rotating chairman, co-rotating with Hu Houkun and Xu Zhijun, Guo Ping has been transferred to the chairman of Huawei's supervisory board, and in addition, Ding Yun, one of Huawei's original three executive directors (former chairman of the operator business), has been adjusted to vice chairman of Huawei's supervisory board.
According to Huawei's official website, Huawei exercises collective leadership at the governance level, and the board of directors is the highest responsible body for the company's strategy, operation management, and customer satisfaction. The Board of Directors and the Standing Committee of the Board of Directors shall be presided over by the Rotating Chairman, who shall be the supreme leader of the Company during the period of his or her duties, and the rotating Chairman shall be held for a period of six months.
Huawei announced that according to the company's rotating chairmanship system, From April 1, 2022 to September 30, 2022, Hu Houkun will be the rotating chairman of the board. Since Meng Wanzhou will be replaced by Guo Ping, his first rotation period should or will be April 1, 2023 to September 30, 2023.
According to the data, Huawei's Supervisory Board is the highest supervisory body of the company and exercises supervision rights on behalf of shareholders. The Supervisory Board is positioned to be responsible for the survival and development of the company, and its basic functions include leadership management, business review and strategic foresight.
The members of the Supervisory Board are elected by the Shareholding Employees' Representative Council and voted by the Shareholders' Meeting. The Board of Supervisors shall have a Standing Committee, which shall carry out its 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 evergreen, and the change of the board of supervisors is a work that promotes corporate governance in an orderly manner 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, the chief financial officer of Huawei Hong Kong company, and the president of the accounting management department. 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 Organizational Structure, Process, System, and IT Platform for Huawei Finance. From 2007 to 2014, Meng Wanzhou implemented the IFS (Integrated Financial Services) reform in Huawei globally, making refined management one of huawei's genes for continuous growth.
In 2014, Meng Wanzhou led Huawei's data reform, established a sound data management system, and realized "counting out a hole" to make data a strategic asset of the company. During the same period, through the internal control of financial reports, the consistency of accounts, capital management and tax management and other reform projects, she enabled the financial organization to become a business partner and value integrator, supporting the company's business to achieve rapid and steady development in the world.
Since 2019, matching the company's strategic foresight and long-term development plan, Meng Wanzhou has built an overall blueprint for financial digitalization. Through the risk probe and risk control model, a contactless risk control system is established; an agile operation management system is established, which realizes intelligent operation management and decision-making based on data and AI algorithms; and an integrated platform for financial and economic combat command is established to realize coordinated operations and three-dimensional command of key financial operation scenarios based on data transparency and real-time interaction.
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 achieve its strategy in the new era.
It is worth mentioning that on December 1, 2018, Meng Wanzhou was detained in Vancouver, Canada, due to allegations from the United States, and the United States requested her extradition to Canada. In a subsequent Canadian court hearing, Meng Wanzhou was successfully released on parole.
On September 24, 2021, Meng Wanzhou reached an agreement with the US judicial department to extend the prosecution, and the US side has notified the Canadian court to withdraw the extradition request. The Canadian court immediately terminated the extradition process, exempted Meng Wanzhou from all conditions of bail, and announced her release. On September 25, Meng Wanzhou returned to China on a chartered flight from the Chinese government.
On March 28, 2022, Huawei held the 2021 annual report press conference, and Meng Wanzhou once again made a public appearance as Huawei's CFO to introduce Huawei's relevant financial situation.
According to Huawei's 2021 annual report, huawei achieved global sales revenue of 636.8 billion yuan and net profit of 113.7 billion yuan in 2021, an increase of 75.9% year-on-year. It is worth mentioning that Huawei has continued to increase R&D investment, with R&D investment reaching 142.7 billion yuan in 2021, accounting for 22.4% of the annual revenue, and the cumulative R&D expenditure invested in the past decade has exceeded 845 billion yuan.
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 the main business, Huawei's operating cash flow has increased significantly in 2021, reaching 59.7 billion yuan; the asset-liability ratio has been reduced to 57.8%, and the resilience and resilience of the overall financial structure are strengthening."
For 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.
Earlier, in response to the issue of his daughter's future development, in February 2019, Huawei founder Ren Zhengfei said in an interview with the BBC, "Meng Wanzhou can never be a successor because she has no technical background, and I can't completely see the development trajectory of my children from my father's point of view." ”
However, Ren Zhengfei's statement came after Meng Wanzhou was detained by Canada at that time. After being detained for more than 1,000 days, with the successful release of Meng Wanzhou and her return to China, Meng Wanzhou's reputation at home and within Huawei has reached a new height.
As the so-called one time and another, Ren Zhengfei is currently 77 years old, and as he grows older, retirement may be on the agenda. And Meng Wanzhou may become the real successor of Ren Zhengfei.
Editor: Xin Zhixun- Lin Zi Integrated from the network