On December 18, it was reported that Dongfang Selection's share price opened 11.62% higher at HK$29.3, with a total market value of HK$29.77 billion. Since then, Dongfang Selection's share price has risen by more than 16%.
At about 11 o'clock in the evening on December 17th, Dongfang Selection released a live broadcast preview poster, and Yu Minhong and Dong Yuhui will broadcast live at 8 pm on the 18th. The content of the poster shows that Dong Yuhui has become a "senior partner of Oriental Selection".
As of 8 o'clock on December 18, Dong Yuhui's account had 21.262 million followers, and the number of fans of Dongfang's selection account was 28.814 million.
Oriental Selection Announcement:
Sun Dongxu was dismissed as executive director and CEO of Dongfang Selection
Retain as a non-executive director
On the evening of December 17, Oriental Selection announced on the Hong Kong Stock Exchange that the board of directors had resolved on December 16 to remove Sun Dongxu as chief executive officer and remove him as executive director of the company, effective immediately. In light of the recent public outbreak, Sun's change of position reflects his recent mismanagement of the Company's brand and reputation, and the Board believes that Sun's resignation from these positions will better safeguard the interests of the Company's shareholders and allow more experienced directors to take over the day-to-day management of the Company. Sun Dongxu confirmed that as of the date of this announcement, he has no differences of opinion with the Board of Directors and has not made any claims against the Company. The Board of Directors has appointed Yu Minhong as the new Chief Executive Officer of the Company with immediate effect. Mr. Yu will continue to serve as the Chairman of the Board and will be re-designated as an Executive Director of the Company.
However, on the list of board members attached to the announcement, Sun Dongxu is still listed as a non-executive director. This also confirms what Yu Minhong said in the live broadcast on the evening of December 16 that although Sun Dongxu was removed from the position of CEO, he will still stay in Dongfang Selection and engage in related management work.
On the afternoon of December 16, Dongfang Selection issued a notice saying that Chairman Yu Minhong concurrently served as the CEO of Dongfang Selection, and removed Sun Dongxu from the position of executive director and CEO of Dongfang Selection, effective immediately. (Previously reported)
Yu Minhong spoke again:
The boss must be willing to work for the employee
On December 17, Yu Minhong appeared at the 4th China Vocational Education Development Forum, in response to the recent Oriental selection incident, he said: "With the development of modern society, the boss must be willing to work for local employees, and the direction is the same, and it will become a partnership." If the employee has the ability and he has his own direction, and you don't want this direction, then break up well. ”
"A lot of people are still bossing in a big way, condescendingly managed, there is no problem with traditional companies, if you are a modern company, there must be problems. Yu Minhong concluded.
Yu Minhong believes that the reason for the accident in Dongfang Selection is that the thinking of the management team has not been reversed, and the traditional thinking is used to manage excellent employees, which can be maintained for a period of time by friendship. In the end, the traditional management model is not adaptable, which will inevitably cause shocks and changes.
"I also reflected on myself later, I should have intervened in this matter earlier, and there would not have been a lose-lose situation like today. Yu Minhong said.
Yu Minhong said that this time, in my expectation, sooner or later (there will be an accident), "but as the chairman, I am the boss of the shop, unwilling to intervene in the children's (problems), hoping that they can solve the problem by themselves." ”
Regarding the development path of the Internet celebrity model, Yu Minhong revealed that he had held countless meetings with the management of Dongfang Selection to express: "Your business model must change, and the relationship with excellent employees must change." They don't listen to what they say, and the management is very handy, and the young people don't understand the crisis behind it. I felt it, but I couldn't help it. ”
"I have an Internet celebrity thinking, I am a big Internet celebrity, the reason why I don't ask New Oriental for money is because I have equity in New Oriental, and the original interests have been decided. Yu Minhong further said: "But the anchors must develop step by step, and they need to achieve the so-called treatment and feelings." ”
Oriental Selection CFO: The story of New Oriental will always have a happy ending
After Yu Minhong and Dong Yuhui came forward to calm everyone's doubts, Dongfang Selection made another senior executive speak. On December 16, Yin Qiang, CFO of Oriental Selection, said in the circle of friends that the story of New Oriental will always have a happy ending, and the night is long enough to make people feel that the light of dawn is so bright that everyone is worried.