With the resignation of "Dongfang Xiaosun" and the promotion of Dong Yuhui, Dongfang Selection (01797. HK) is finally approaching the end of the public opinion turmoil.
In the early morning of December 18th, Dongfang Selection released the latest live broadcast trailer poster under its multiple official social accounts, Dong Yuhui, who has been off the air for many days, will appear, and together with Yu Minhong, the specific live broadcast time is 8 o'clock tonight.
Oriental Selection's latest live broadcast of Haibo, source: Oriental Selection's official Weibo
It is worth noting that in the official poster, Dong Yuhui's position has been officially upgraded from the earlier "anchor with goods" to "Oriental Selection Senior Partner", that is, VP (vice president) level. Another market source pointed out that Dong Yuhui's shareholding ratio in Dongfang Selection was 0.5%.
It is reported that in the live broadcast on December 17, Luo Yonghao revealed that he had received news from two reliable sources, one of which was from the platform, and the other was from an executive selected by Dongfang. The other party said that Dong Yuhui had received a sky-high treatment, although the specific number is unknown, but it is definitely a huge amount. Luo Yonghao said that he believes that Dong Yuhui should be paid very well, which is a phased victory for those who support Dong Yuhui and a very good thing.
Affected by this, after the opening of Hong Kong stocks on December 18, the share price of Oriental Selection once rose by 17.71%. As of the morning market close, Oriental Selection's share price was HK$30.3, up 15.43%, with a turnover of HK$1.695 billion, and the company's total market value was about HK$30.755 billion, an increase of more than HK$4 billion from the previous trading day (December 15).
At the same time, the number of fans of Dong Yuhui and Dongfang Selection has also been further improved. As of 7 a.m. on December 18, Dong Yuhui's account had 21.247 million followers, an increase of nearly 1 million compared with 20.249 million followers at 9:30 a.m. on the 17th, and the number of followers of Dongfang Selection account also rebounded to 28.806 million, and there is a trend of continuous recovery.
It is understood that on December 17, Yu Minhong appeared at the 4th China Vocational Education Development Forum to share the recent Oriental selection incident. He said: "With the development of modern society, the boss must be willing to work for the employees, and the direction is the same, which becomes a partnership relationship. 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.
On the evening of December 17, Oriental Selection officially announced on the Hong Kong Stock Exchange that the board of directors had resolved to remove Sun Dongxu from the position of chief executive officer on December 16 and remove him as an executive director of the company, effective immediately.
Titanium Media APP noted that Sun Dongxu is still on the list of Dongfang's selection board of directors as a non-executive director. However, Sun Dongxu is not in the audit committee, remuneration committee and nomination committee set up by the company's board of directors.
Oriental Selection said that in view of the recent public opinion turmoil, Sun Dongxu's position change reflects his recent mismanagement of the company's brand and reputation, and the board believes that Sun Dongxu'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 the announcement, there was no difference of opinion between him and the board of directors and he did not make any claim against Oriental Selection.
The Board of Directors of Oriental Selection has appointed Yu Minhong as the new Chief Executive Officer of the Company, effective immediately. Yu Minhong will continue to serve as the Chairman of the Board and will be re-designated as an Executive Director of the Company.
In addition, some analysts pointed out that the personal relationship between Dong Yuhui and Sun Dongxu has broken down, and it is difficult to repair and save, and the root cause is in the former CEO Sun Dongxu, and it is still in the management mode and management level of the education and training industry.
The analyst said that Yu Minhong's way to let Dongfang Selection get rid of the current situation is very simple, that is, to set up a partnership system, and to break the situation from Dong Yuhui, let Dong Yuhui become a senior partner of the company to form a new team, Dong Yuhui directly reports to Yu Minhong and the board of directors (senior partner is responsible to the board of directors, and the general partner is responsible to the president). After this benchmark is established, if other employees grow up in the future, they can also be promoted to partners, which not only solves the promotion path of employees, but also integrates external well-known anchors through the partnership system. As for the supporting management, incentive and restraint mechanisms, we can learn from other industries, and there are many enterprises with very mature partnership systems in China.
"For Dongfang Selection, letting Dong Yuhui form a new team will only be beneficial, not harmful. And the number of fans of Dong Yuhui's personal account is very large, with the account as the main account (as for how the company manages or adopts the personal account, it is discussed internally), and it can soon be completely connected and excessive, Yu Minhong not only protects Dongfang Selection and Dong Yuhui, but also allows Dong Yuhui's team and Sun Dongxu's team to form a healthy competition. The analyst concluded. (This article was first published on the Titanium Media APP, author: Chen Weina)