Reporting by XinZhiyuan
Edit: David
Yesterday, Huawei completed the election of the board of supervisors, and CFO Meng Wanzhou was promoted to vice chairman, rotating chairman, and CFO.
Yesterday, Huawei made another big move, CFO Meng Wanzhou served as vice chairman, rotating chairman, and CFO.
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.
After this change, CFO Meng Wanzhou became Huawei's rotating chairman, co-rotating with Hu Houkun and Xu Zhijun, and guo Ping, the former rotating chairman, was transferred to the chairman of Huawei's supervisory board.
In addition, Ding Yun, one of Huawei's original three managing directors (former chairman of the operator business), served as vice chairman of Huawei's supervisory board.
According to Huawei's official website, the board of directors is the highest responsible body for the company's strategy, operation management, and customer satisfaction. Huawei exercises collective leadership at the governance level, and the board of directors and the standing committee of the board of directors are chaired by the rotating chairman, and the rotating chairman is rotated for six months.
Previously, Huawei announced on March 31 that according to the company's rotating chairman system, Hu Houkun was the rotating chairman from April 1, 2022 to September 30, 2022.
According to the information on the official website, after the change, Huawei's board of directors includes: Chairman Liang Hua, Vice Chairman/Rotating Chairman Xu Zhijun, Hu Houkun, Meng Wanzhou, Managing Directors Wang Tao and Yu Chengdong, Directors Xu Wenwei, He Tingbo, Ren Zhengfei, Tao Jingwen, Yan Lida, Li Jianguo, and Bloomberg.
Meng Wanzhou is the eldest daughter of Huawei founder Ren Zhengfei and graduated from Huazhong University of Science and Technology with a master's degree. 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.
Under the leadership of Meng Wanzhou, Huawei Finance has become the world's leading digital and intelligent financial organization, creating a solid and reliable operating foundation for Huawei and helping the company realize its strategy in the new era.
After returning to China, he made his first appearance and released his annual report on behalf of Huawei
On March 28, Meng Wanzhou attended Huawei's annual report conference and released the 2021 annual report on behalf of Huawei as CFO. It was her first appearance since returning home last September.
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 annual report press conference: "Our 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."
"In the last four years, the world and China have changed dramatically. In the months since I came back, I've been trying to catch up. I wish I could catch up." She said.
Resources:
https://finance.sina.com.cn/tech/2022-04-02/doc-imcwiwss9462827.shtml?finpagefr=p_114
https://china.huanqiu.com/article/47RDGCmpxfa
https://cn.reuters.com/article/huawei-tech-meng-wanzhou-idCNL3S2VZ35Y