The "king of instant noodles" Master Kang entered the intergenerational alternation, and the head of the person, Wei Yingzhou, retired and was helmed by the second generation. Over the years, the four brothers of the Wei family have worked together to fight together, a bowl of instant noodles to hit the world, and now that the second generation has come to the stage, what will Master Kang taste like?
During the sensitive period, Master Kong's second generation took over the baton with deep meaning
Announcement of Master Kong Holdings
On the evening of December 20, "Master Kong" (Master Kong Holdings Limited) announced a major personnel change: First, founder Wei Yingzhou will officially resign as an executive director and chairman of the board of directors of Master Kong on January 1, 2019, and only serve as a senior consultant of Master Kong to express his opinions on the company's strategic planning and business development.
2. Appoint Wei Hongming to take over as the chairman of the board of directors of Master Kong Holdings and concurrently serve as a member of the Remuneration and Nomination Committee, and appoint Mr. Wei Hongcheng as an executive director of the board of directors of Master Kong Holdings. Wei Hongming was the eldest son of Wei Yingzhou, and Wei Hongcheng was the third son of Wei Yingzhou.
This personnel change of Master Kong means that Wei Yingzhou, the founder of the Dingxin Group of the Master Kong brand, is about to officially hand over the baton to the second generation.
The four brothers of the Dingxin Wei clan
Taiwan Dingxin Group is a family business with a strong story. The founders, Wei Yingzhou, Wei Yingjiao, Wei Yingchong and Wei Yingxing, are originally from Huangzhuyan Village, Guzhu Township, Yongding District, Longyan, Fujian Province, and the four Wei brothers are the fifth generation after the ancestors of the Wei family migrated to Taiwan.
The four Wei brothers, the eldest is Wei Yingzhou, born in 1954, is the father of the familiar instant noodle "Master Kang", the head of Master Kang who has just announced his retirement. He and his three younger brothers, Wei Yingjiao, Wei Yingchong, and Wei Yingxing, were known as Dingxin Da dong, second dong, third dong, and fourth dong.
The four Wei brothers "divide the work and do not divide the family", at the earliest they had the division of labor in the family's territory, the big Dong Wei Yingzhou, responsible for mainland affairs, mainly EX and Master Kang; the second Dong Wei Should be handed over, as the chairman of the Dingxin Group; the third Dong Wei should be responsible for the whole company (chairman), and later the chairman of the Dingxin Oil Production; and the smallest of the brothers, the fourth Dong Wei Yingxing, is also an enterprise that many people are quite familiar with, that is, Dicos.
Master Kong Holdings was listed on the Hong Kong Stock Exchange in February 1996. In the same year, the company expanded from the production of instant noodles to beverages, egg rolls and other business scope. Since 2008, it has been named one of the "Asia Top 50" listed companies by Forbes for many consecutive years. As a Chinese FMCG brand, a few years ago, the "Master Kong" brand value reached 1.498 billion US dollars.
Wei Yingzhou's eldest son, Wei Hongming
Wei Hongming, the eldest son of Wei Yingzhou and the upcoming chairman of Master Kong's board of directors, is 41 years old. He joined Master Kong Holdings in 2006 for "grassroots training" as a project manager in the President's Office. Three years ago, on the first day of the New Year in 2015, Master Kong completed a change of coach, and the founder of the company, Wei Yingzhou, gave way to the position of Chief Executive Officer of Master Kong to Wei Junxian, the former CEO of the food business. On February 4 of the same year, there was another wave of personnel changes, and Wei Hongming, the eldest son of Wei Yingzhou, "came to the fore" to pave the way for succession.
According to Master Kang's announcement at that time, Wei Yingjiao, the "second director" of the Wei family brothers, resigned from the position of executive director of Master Kang, paving the way for his nephew Wei Hongming to ascend to the throne, which was replaced by Wei Hongming. But this analysis can be made: the Wei family took advantage of this change of position to smoothly push the second generation of the Wei family to the forefront, reaching "two eagles with one stone": one is to prepare for succession, and the other is to build a "protective umbrella" for Master Kang.
Incidentally, in addition to joining Master Kong's board of directors and serving as an executive director, Wei Hongming also served as a director of another family-owned company, Taiwan Flavor Whole Foods, from 2007 to 2014, when the company was under the full management of his third uncle, Wei Ying. After studying for a master's degree in management at Stanford University in the United States, Wei Hongming worked as an asset allocation analyst at a company invested by Microsoft co-founder Paul Allen, which can also be said to be an external exercise before he took over.
Wei Yingzhou's third son, Wei Hongcheng (魏宏丞).
The second generation of the Wei family all acted low-key, compared to his brother Wei Hongming, Wei Yingzhou's third son Wei Hongcheng, there would be more appearances. At the end of November 2017, the "Tencent x Master Kang High-level Strategic Meeting" held at the headquarters of Tencent in Shenzhen was led by Wei Hongcheng, and his position at that time was the executive director of Master Kong.
Wei Hongcheng, born in 1982, graduated from Imperial College London with a bachelor's degree, received a master's degree from Waseda University in Japan, and an MBA from Harvard Business School. Mr. Wei worked in the New York office of Blackstone and the headquarters of PepsiCo. He joined Master Kong 11 years ago and since February 2015 he has been a director of Master Kong Beverage Holdings Limited, a subsidiary of Master Kong.
Wei Hongcheng married his wife Cai Yingzhen in 2013. Cai Yingzhen is the youngest daughter of Cai Erhuang, the former representative of Taiwan in New Zealand, and it is said that when she first met Wei Hongcheng, she did not know that he was the son of the Dingxin Group, but it was strange why there were many free instant noodles in his dormitory, and the two were in love for 9 years before they got married.
Incidentally, Wei Hongcheng is also a key executive of Dingxin International, and he is also a founding investor in New Frontier and Boxful.
Master Kang's father and founder Wei Yingzhou
How to view Master Kong's second-generation succession layout this time? In a word: during sensitive periods, Master Kong's second generation took over the baton with deep meaning.
First, handing over the baton is Wei Yingzhou's "established plan."
Wei Yingzhou, the 64-year-old of the four wei brothers, disclosed his intergenerational succession plan as early as a decade ago. 10 years ago, Wei Yingzhou said that he would step down as chairman within 5 years, and his two sons, Wei Hongming and Wei Hongcheng, would first take over the position of vice chairman and complete the company's handover within 10 years.
In January 2015, Wei Yingzhou stepped down as Chief Executive Officer of Master Kong, and although his position was handed over to a professional manager, he continued to serve as chairman of the Board of Directors of the Group, but instead focused on the Overall Development Strategy of the Group and the succession plan of the senior team. That is to say, Wei Yingzhou's retirement and the appointment of the eldest son Wei Hongming as the head of the family, plus the appointment of the younger son Wei Hongcheng as an executive director, were not temporary intentions, but a succession arrangement of "ten years of merit".
Second, it is hoped that the second generation will lead Master Kong's reform. At the close of trading on Friday (21st), Hong Kong stock "Master Kong Holdings" fell 2.48%, a sharp decline from the stock price after the opening of the early session, and the decline was narrowed. This shows that the market's reaction to the retirement and second-generation succession of Master Kong Wei Yingzhou has been relatively stable.
Wei Hongfan, second son of Wei Yingzhou and chairman of YingHong Group (right)
Wei Yingzhou had three sons, and the second son, Wei Hongfan, did not enter master Kang's succession layout, mainly because he started his own business. At present, Wei Hongfan currently runs the "Lingfeng" International Bicycle Company; in addition, the INHON mobile phone, which is known as "Master Kong Mobile Phone" by the outside world, was founded by Wei Hongfan, chairman of Ying Hong Group.
Wei Hongfan, in 2008, independently established YingHong Group, which has 5 subsidiaries, including Yinghong Computer, Yinghong Information, Yinghong Technology, Yinghong Lingfeng and Yinghong Communications. Among them, Yinghong Technology, whose factory is located in Kunshan, is mainly responsible for nanoimprint film, precision mold and carbon fiber enclosure business. However, his cross-border mobile phone has not been recognized within the family.
Affected by various factors, the FMCG market competition is not only very fierce, but also faces many growth bottlenecks. For Wei Yingzhou, although he is not very old, he can let the second generation of the family with international management experience and a certain understanding of corporate culture take over, and its purpose is also quite clear: First, the inheritance of the family business is the biggest thing to do for a long time, accelerate the second generation to take over the baton, and have more time to arrange the inheritance plan of the next step of "helping the horse and sending a ride".
Secondly, the younger generation is more able to understand and understand the current young consumers than the elderly, which is conducive to promoting Master Kong's reform and model innovation, and changing Master Kong's current unfavorable situations.
Wei Yingchong had just been released on parole but was facing detention
Third, the arrangement that was originally a "double happiness at the door" was suddenly changed.
On December 20, Master Kong Holdings announced the "List of Board Members and Chief Executive Officers, Roles and Functions", and announced the news that the head of the board, Wei Yingzhou, had retired and his son Wei Hongming had taken over, which could have been used as an arrangement for "double happiness at the door".
On the 17th of this month, Wei Yingchong, the former chairman of the former chairman of the new top, that is, Wei Yingzhou's third brother and Wei Hongming's third uncle, was released from prison on parole, which was undoubtedly a great joy for the Wei family. Wei Hongming took over the baton, the third uncle returned, is not it "double happiness linmen"?!
However, things have made waves again, at the same time as announcing the succession of Master Kong's second generation, that is, on the evening of the 20th, the media reported that Wei Yingchong was sentenced to prison for the oil mixing case, and although he was released on parole on the 17th, his case involving the new oil products had not yet been concluded. In other words, Wei Yingchong was released on parole but faced detention.
According to reports, Wei Yingchong was involved in the "two cases" with a total of NT$1.61 billion. Among them, in the case of flavor all oil products, Wei ran a number of enterprises, among which Wei Quan Company was acquitted because it was affected by the Datong oil mixing case, and was found not guilty of deliberately adding fake oil that was mixed, but the blended oil part was found to be untrue and suspected of confusing consumers, Wei was sentenced to 2 years in prison, served prison in July last year, and was granted parole on the 17th of this month.
Wei Yingchong was sent to prison last year
Wei Yingchong was also involved in the Dingxin Oil Case, and the second instance sentenced him to 15 years in prison for violating the Food Safety and Sanitation Management Law and fraud, of which 6 years were fined by Yike, heavily fined 250 million yuan, and confiscated more than 100 million yuan of criminal gains, which is currently being tried by the Supreme Court.
This time, the Taichung High Score Inspector argued that Wei should be detained because his assets were second only to Gou's in the Forbes Rich List. In addition, the prosecution argued that Wei Ying, a Singaporean national, showed signs of property purchases in the mainland or other countries, and owned a private jet, which objective reasons suggested that he had the possibility of fleeing.
The four brothers of the Wei family have always had a deep brotherly affection, and when they were released on parole, the "second dong" Wei Yingjiao personally went to greet them, and the brothers hugged each other, and their affection overflowed into words. Wei Yingchong said that in the future, he will continue to promote various cultural public welfare. Before being imprisoned last year, Wei Yingjiao said that he calmly faced the test given by heaven, hoped that the public would get out of hatred, confrontation and rumors, and thanked relatives, friends and employees for standing up all the way and believing in his innocence.
The four brothers of the Dingxin Wei clan once called the "four chairmen" to the outside world.
According to research data, only about 3% of family businesses in the United States can successfully pass to the hands of the tenth generation of heirs, which is the best empirical interpretation of "three generations of wealth"; time is the best witness, and the succession problem is one of the biggest challenges that all family businesses cannot escape.
One of the reasons why many family businesses fail to pass on is the rush to hand over. The inability to scientifically and comprehensively plan the succession in advance and to formulate succession strategies accordingly, especially the effective implementation of the strategies, often leads to panic and crisis due to accidents or sudden changes.
The founder retired, the two sons of the second generation of the Master Kong family took over, one at the helm, one protector, should be a good relay combination, which also continues the previous generation of "brothers with one heart, their profits and gold" spirit of cooperation, home and everything.
In addition, due to the founder's early planning and early layout of the second-generation relay, the two brothers Wei Hongming and Wei Hongcheng have more than ten years of succession experience in Master Kong, and have a good understanding of the status quo and trend of the food field and the FMCG industry, which is beneficial to the reform and innovative development of Master Kang after the shift. Since 2017, master kong beverage business revenue has rebounded; even though master kong's profit has declined, its share of China's instant noodles and beverage market has always been ranked first in the market. Although Master Kong faces many challenges, it should be pointed out that the founder Wei Yingzhou chose a fairly good time to turn over! The "extinction" storm has gradually subsided, Master Kang has smoothly passed through the difficult moment, and the second generation of batons is on a re-departure bayonet.
The "Standard Communism" of the Wei Family for Instant Noodles
Wei Yingxing, chairman of Dingxin International Group, and his fellow villagers in Taiwan are looking for roots in their hometown
"I must come back more often in the future, often." When he left the ancestral land, Chairman Wei Yingxing, who returned to his hometown to visit the ancestors, said affectionately to the villagers. From December 7 to 10 this year, Wei Yingxing, chairman of Taiwan's Dingxin International Group, together with 51 villagers from the Wei clan in Taiwan, returned to his ancestral hometown of Huangzhuyan Village, Guzhu Township, Yongding District, Longyan City, to find roots and visit relatives and friends.
Wei Yingxing was the youngest of the four dingxin Wei brothers, and he and his brothers Wei Yingzhou, Wei Yingjiao, and Wei Yingchong were the fifth-generation descendants of the Dingxin Wei clan. The ancestor Wei Jianzheng, in 1826, went to Taiwan with his family, to his grandfather's generation, a total of 8 brothers and 6 sisters, of which the second oldest, in 1896, he returned to his ancestral hometown of Longyan Yongding Huangzhuyan Village to continue the ancestral business.
Wei Yingxing's father is the eighth oldest in the family. In 1958, Wei Hede, the father of the four Dingxin Wei brothers, set up a small oil mill in Changhua Village, Taiwan, named "Dingxin Oil and Fat Factory", and began the original accumulation of assets. In 1978, the four Wei Yingzhou brothers took over the Dingxin Oil and Fat Factory, promoted the diversification of assets, and renamed it "Dingxin", the predecessor of Dingxin International Group.
In 1992, the Wei family began to invest in the mainland, investing 8 million US dollars to establish Tianjin Dingyi International Food Co., Ltd. in Tianjin Tanggu Development Zone, since the company produced the first bowl of braised beef noodles, "Master Kang" has become synonymous with Chinese instant noodles.
Wei Yingchong was in Changhua, Taiwan
The Dingxin Wei family is a model case of the inheritance model of "division of labor and division of business without separation of families", which has always attracted much attention. The five words "home and wanshixing" are the most appropriate to apply to their families; since the death of their father, the four Wei brothers have until now been "divided into division of labor without dividing families", and the distribution of wealth is a bit of a "people's commune" that eats a big pot of rice, which we will call the "communist" model.
Very early on, Wei Yingjiao, the "second director" of Dingxin, said that the welfare of the four brothers, concubines and the second generation was the standard communism, so the family and everything was prosperous.
In the summer of 2013, Wei Yingjiao, the founder of Master Kang who created Master Kang with his brother Wei Yingzhou and became the first brand of instant noodles in mainland China, gave a speech at the School of Management of National Taiwan University, and some listeners asked: How can the Wei family have a huge business, brothers and concubines, how can they still get along harmoniously? Wei Yingjiao said in his answer that the four brothers all realized that only by being big on the mainland could they make money, and that they must be united to have strength.
Wei Yingjiao said that our four brothers are indeed very united. Four brothers with parents, four concubines from different parents, to achieve unity is "very difficult" thing; but because the planning is very clear, our family is the standard "Communist Party", the four brothers are 25% of the equity, and they pay the same salary every month.
From left to right: Wei Yingxing, Wei Yingzhou, Wei Yingjiao, Wei Yingchong
At that time, Wei Yingjiao also shared that the concubines did not have to go to work in the company, nor could they bite their ears, but were only responsible for taking care of the children, and the four concubines received the same salary every month. Wei Yingjiao said that the cost of their second-generation children studying abroad is also fixed. Studying abroad, the cost of living a day is 8 pounds, and the same is two round-trip economy class tickets, spending more than a dime is not OK, so strict. If any child wants to be business class and wants to be more comfortable, he has to pay for it himself.
Our home is absolutely fair! Wei Yingjiao said that until today we have cooperated like that. In his view, the internal governance of family enterprises, "from the institutional aspect, is good for the morale of the whole team, and good for the harmony of the whole family, it will be very successful." ”
For a long time, the Dingxin Wei family has taken the eldest brother Wei Yingzhou as the "leadership core", everyone divides labor with each other, and also works in different industries, but no matter what work you do, the money you earn must be handed over to the "communist collective" - the family fund as much as possible, and then the four people will divide their own share from the fund according to equal rights and interests.
Four Wei Yingxing and Wei Tumiao visited the Guzhu Primary School, their ancestral hometown
The four Wei brothers are famous for their unity in the mall, attach great importance to family feelings and ethics, and regard the family business as the face of the family. After the food safety storm a few years ago, the angry people launched a boycott of the "extinction movement", and for a time Dingxin was rumored to be very "smelly". Caught in the whirlpool of public opinion, some people have suggested changing the name of Dingxin, but Wei Yingchong, the three who can bear the burden of humiliation, said that the name Dingxin was handed down from his father's generation and has a deep significance, We want to re-polish the signboard so that the next generation can stride forward. ”
At that time, Wei Yingchong further said: As a decision-maker, we must have wisdom to make judgments. "If you do something wrong, of course you're going to be sentenced; if you're wrong, why change your name?" In the view of the Dingxin and Master Kang Wei brothers, once the company changes its name, it is equivalent to admitting that it has done wrong. Many things are produced without understanding, and in the future, if you continue to communicate with the public, you will strive for innocence.
Taiwan's Dingxin Group's three-trap black heart oil (fake oil, steamed water oil and feed oil) incident also affected the subsidiary Master Kong to a certain extent. In October 2013, Gao Zhenli, chairman of the Board of Directors of the Changji Company, broke out the "black heart oil" incident, and Wei Yingchong, then chairman of the three companies of Wei Quan, Dingxin Oil Production and Justice, became the target of public criticism, not only to eat the lawsuit, but also to trigger a huge "extinction" storm on the island of Taiwan.
The verdict was pronounced on November 27, 2015, and the verdict was not guilty at first instance, but in April this year, the Taichung Branch of Taiwan's High Court made a "big reversal" in the second instance, changing wei's sentence from "innocence" to 15 years in prison. Later Wei Yingchong said through a new spokesman that he was very sorry about the results of the court's judgment and would definitely appeal again and strive for innocence.
Dingxin Three Wei Yingchong
In the so-called "bad things spread thousands of miles" and "the storm of destruction", there are also some irrational and false things. For example, some people say that the mouth of Wei Yingchong, the "fourth dong" of dingxin, is a little crooked, and it is said that it is retribution, which is caused by a stroke of bad things. In fact, Wei Yingchong's mouth was because when his family was very poor and poor in his early years, his face and nerves were damaged due to high fever.
"Home and all things are prosperous", in good times, "communism", blessed to share; but in times of tribulation, people can see the preciousness of home and peace!
The four brothers of the Wei family work together to fight for a bowl of instant noodles, and on forbes' "2017 Taiwan 50 Rich List", the Dingxin Wei brothers ranked seventh, and their personal wealth value was only 100 million US dollars worse than the sixth Formosa Plastics Wang Yongqing family. Over the years, the success of their careers has come from the combined strength of brothers and sisters to cast gold together.
It is often said that there are a thousand mouths in the family, and there is only one person in charge. In the "extinction" storm, the eldest brother Wei Yingzhou was like the "Party Central Committee", so that the three brothers and other family members were closely united around, and the spirit of brotherhood and brotherhood and pricelessness was fully reflected.
In handling the "extinction" incident, the psychological pressure was too great, and in handling the sale of its telecommunications business "Taiwan Star", it was simply a big loss. At a time when the crisis was in a hurry, Wei Yingzhou, the "Great Dong", directly stood up and made a series of important decisions. Among them, he personally took out more than 10 billion yuan of funds, repaid the loan of Weiquan Bank, which was involved in the "black heart oil" incident, and promised to donate 3 billion yuan of food safety funds. Worried that his second brother had depression, he was "placed under house arrest" in Shanghai for recuperation.
Dingxin Three Wei Yingjiao (right)
In addition, a rapid "cut" is made between the family business and the association involved in the crisis. In terms of personnel, the "mess" in Taiwan east of the Strait under Dingxin was handed over to the second brother Wei Ying, while the mainland market west was responsible for himself and the old fourth Wei Yingxing, and quickly cut the relationship between Master Kang and Wei Quan, who was involved in the storm.
Family cohesion is the most powerful source of power for crisis management in family enterprises. There are many successful cases in this regard, such as after Huang Guangyu was imprisoned, due to the strong family cohesion, the company was still able to calmly cope with challenges from all sides; also because of the "family and" spirit, there was a new "resurrection from the dead", Master Kong is still a well-known well-known food brand.
Master Kong's instant noodles, the most attractive is to have Q energy; the taste in the human world, in the final analysis, always lies in reaching the hearts of the people. "Home and everything" is Chinese's ideological concept since ancient times, in the Dingxin Wei family, "home and" has become a figurative inheritance culture, "no separation of families" such a inheritance arrangement, in the past led them to success, but also let them survive in the storm. The "home and" centripetal force is a positive force that can promote the continuous development of the family business!
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