The Surging News reporter Shao Bingyan
The 64-year-old Liu Shaoyong officially stepped down as the chairman of China Eastern Airlines.
Liu Shaoyong China Organization Personnel Report Data Chart
On the evening of August 12, China Eastern Airlines Co., Ltd. (China Eastern Airlines, 600115.SH) announced the resignation of the chairman. According to the announcement, due to his retirement, Liu Shaoyong resigned from the company's board of directors, directors, chairman of the board of directors' nomination and remuneration committee, members and authorized representatives required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The announcement said that Liu Shaoyong's resignation did not cause the company's board of directors to fall below the statutory minimum number of people, nor did it affect the normal operation of the company's board of directors. China Eastern Airlines said in the announcement that since taking office, Liu Shaoyong has been conscientious and diligent, and has played an important role in leading the company's board of directors, formulating corporate strategies, and promoting the company's sustained and high-quality development.
According to the announcement of China Eastern Airlines, Li Yangmin, vice chairman of the company, acted as chairman of the board, nominated by the board of directors and chairman of the remuneration committee, and acted as the legal representative until the new chairman was elected.
"Fire Captain" Liu Shaoyong
Liu Shaoyong joined the civil aviation industry in 1978 and served as deputy general manager of China General Aviation, deputy director of the Shanxi Provincial Administration of Civil Aviation of China, general manager of China Eastern Airlines Shanxi Branch, and director of the Flight Standards Department of the Civil Aviation Administration of China.
Since December 2000, he has been the general manager of China Eastern Airlines. Two years later, in October 2002, Liu Shaoyong was appointed deputy director general of the Civil Aviation Administration of China. Two years later, in August 2004, Liu Shaoyong returned to the central aviation enterprise as the general manager of China Southern Airlines Group Corporation, during which time he also served as the chairman of China Southern Airlines Co., Ltd. Four years later, in December 2008, Liu Shaoyong returned to China Eastern Airlines as general manager and deputy secretary of the party group of China Eastern Airlines Group, and since February 2009, he has been the chairman of China Eastern Airlines. Since December 2016, he has been the chairman of the board of directors and secretary of the party group of China Eastern Airlines Group.
Liu Shaoyong's several adjustments in his career, shuttling between aviation central enterprises and regulatory authorities, while experiencing the test of the 2008 financial crisis, won him the title of firefighting captain.
In 2008, China Eastern Was faced with challenges and pressures such as the aviation industry being hit hard under the financial crisis environment, the company's high asset-liability ratio, and internal management problems. In 2008, China Eastern Airlines turned from profit to loss, with a net loss attributable to the mother of about 13.928 billion yuan. The company's current liabilities exceeded current assets by approximately RMB43.676 billion, while total liabilities exceeded total assets by approximately RMB11.065 billion.
At the end of 2008, Liu Shaoyong was relegated from China Southern Airlines to China Eastern Airlines, just like he parachuted from the Civil Aviation Administration of China Southern Airlines four years ago, Liu Shaoyong once again served as the "fire brigade leader". "In the morning, I was the general manager of China Southern Airlines Group and the chairman of China Southern Airlines, and in the afternoon I became the general manager of China Eastern Airlines Group and the chairman-elect of China Eastern Airlines." Liu Shaoyong once recalled the original situation.
According to public reports, Liu Shaoyong, who "returned to his mother's home", unceremoniously pointed out three kinds of crises facing China Eastern Airlines before the official appointment conference: an existential crisis, a confidence crisis and a crisis of trust.
Under the leadership of Liu Shaoyong, China Eastern Airlines has significantly reduced its asset-liability ratio and gradually lost the dilemma of insolvency. China Eastern Airlines, which was hung with the ST warning sign, and Shanghai Airlines, which was on the verge of delisting, successfully completed the restructuring in 2009 and came out of the quagmire of losses. In 2009, China Eastern Airlines turned a profit, with revenue of 39.831 billion yuan, net profit attributable to the mother of 540 million yuan, and total liabilities of 68.406 billion yuan, a decrease of 18.81% over the beginning of the year.
For the development plan of China Eastern Airlines, Liu Shaoyong said in 2009 that the three-year goal is to significantly reduce losses in one year, basically flat for two years, and achieve profitability in three years. But Liu Shaoyong handed over a report card far faster than he had expected.
The ensuing 2010 Shanghai World Expo became a "turnaround battle" for China Eastern Airlines and Shanghai Airlines, and the operating performance of China Eastern Airlines Shanghai Airlines rose rapidly and sharply.
During Liu Shaoyong's tenure as chairman of China Eastern Airlines, the performance of China Eastern Airlines has increased significantly, and its revenue has exceeded 100 billion yuan three times. Profitable from 2009 to 2019, the growth rate of attributable net profit remained stable. However, since the epidemic, the aviation industry has continued to be affected collectively, and the performance in 2020, 2021 and 2022 has turned into losses.
Derived from wind
Three "battles" have turned China Eastern Airlines around
Previously, Liu Shaoyong had said that the central government had "changed teams, given tickets, and found a way" and three "battles" - the "development war" of the reorganization of China Eastern Airlines, the "battle of resurrection" of China Eastern Airlines from huge losses to profits, and the "battle of fame" of World Expo service guarantee - so that China Eastern Airlines Shanghai Airlines "came alive, stood up and ran".
"The battle for the development of the reorganization of China Eastern Airlines is a relationship between standing and breaking; The battle between the dead and the resurrection of China Eastern Airlines is a difficult and difficult relationship; The battle for fame guaranteed by the Expo is the relationship between giving and gaining. Liu Shaoyong said.
During Liu Shaoyong's tenure, he led and successfully completed the reorganization of China Eastern Airlines, and Liu Shaoyong once said that the reorganization of China Eastern Airlines and Shanghai Airlines was called "not standing and not breaking", "first standing and then breaking". Anything that has been set aside in the past continues to be implemented, and before the new system is established, the old system is still used. "The restructuring was generally very smooth, and by the end of 2009, the restructuring was basically completed. In the second year after the merger of the two companies, China Eastern Airlines came out of the quagmire of losses. ”
Liu Shaoyong also pushed China Eastern to join the SkyTeam alliance. On September 1, 2015, China Eastern Airlines signed a contract with Delta Air Lines, which is the first time that a state-owned airline has introduced an airline from a developed country as a strategic investor. In 2017, China Eastern Anderi and Delta Air Lines made a strategic investment in Air France-KLM, which is the group's largest outbound investment plan, amounting to about 375 million euros (about 2.955 billion yuan).
In 2017, China Eastern Airlines Group Corporation completed the restructuring of the company system and changed its name to China Eastern Airlines Group Co., Ltd. China Eastern Airlines is the first civil aviation enterprise to carry out a pilot mixed reform, and its economic benefits increased by three times year-on-year in 2016. Under the leadership of Liu Shaoyong, the three-tier enterprises of China Eastern Airlines Group Company successfully completed the reform of mixed ownership, and China Eastern Airlines Logistics Company introduced various active components of ownership, and the group's shareholding dropped from 100% to 45% at one time, and the employee shareholding was relatively large. In June 2021, China Eastern Airlines Logistics Co., Ltd., the "first share of aviation mixed reform", landed on the A-share market, marking that China Eastern Airlines became the first state-owned large-scale air transport group to achieve the "double listing" of the two core main businesses of air passenger transport and air logistics.
On October 12, 2020, China Eastern Airlines Group announced the formal implementation of the equity diversification reform, introducing a total of 31 billion yuan of capital increase funds at the group level, becoming a central enterprise group with diversified shareholders, which is the "first order" of the three-year action of state-owned enterprise reform at the level of central enterprise group equity diversification.
During his tenure, Liu Shaoyong also vigorously promoted the development of domestic civilian airliners. As early as 2010, China Eastern Airlines and COMAC signed a C919 large passenger aircraft start-up user agreement and purchase intention. In November 2016, China Eastern signed a cooperation framework agreement with COMAC, becoming the world's first user of the C919 large passenger aircraft. On March 1, 2021, China Eastern Airlines and COMAC officially signed a contract for the purchase of C919 large passenger aircraft in Shanghai, and the first batch of 5 aircraft will be introduced, and China Eastern Will become the world's first airline to operate C919 large passenger aircraft.
Editor-in-Charge: Sun Fu Photo Editor: Jiang Lidong
Proofreader: Ding Xiao