Due to the lack of interference by external environmental factors and the good continuity of inheritance, the study of the iteration and relay of family enterprises in the Chinese circle is a mirror for Taiwanese family enterprises.
In particular, the successful succession of the second and third generations of their families, such as the CITIC Gu family, the Shin Kong Wu family, and the Fubon Jin Cai family, etc., are also a model for many Chinese business family enterprises to learn.
Shin Kong size "princess" personality is very different, multi-angle management life
Wu Xinying, the "Grand Princess" of Shin Kong, who attended the World Economic Forum
As mentioned above, the Taiwan financial holding family has now entered the second and third generations of succession, and many are outstanding. Unlike their grandparents and fathers, these young family generations have drunk "foreign ink", many have also been trained in overseas enterprises, and their (her) ambitions in intergenerational relay are very different from the founding generation of the family, with a broader vision and quite outstanding achievements.
What is more worth mentioning is that people like Cathay Pacific's "little prince" Cai Zonghan, Fubang young lord Cai Chengru, CITIC Three Young Gu Zhongyu, Gu Zhongying and Gu Zhongli, as well as Sunbeam Financial Holdings' grand princess Wu Xinying, second princess Wu Xinru, etc., are all responsible for the heavy responsibility of "three generations richer" or even "four generations rich", and they have floated on the stage of succession, and they are the key roles in bringing the family business kingdom into the "century-old store", and their every move and their every move will inevitably affect the evergreen plan of the enterprise.
Among them, the Shin Kong Jin Wu family is relatively special, and it is the best case to study the role and strength of women in traditional enterprises. Like the head of Shin Kong Wu Dongjin's grand princess Wu Xinying, since 2002 as the special assistant to her father Shin Kong Jin Chairman Wu Dongjin Office, has spanned the 18th year, this personality of the spicy Xinguang family "female third generation", in addition to many topics, is actually a good third generation successor.
Over the years, she has actively strengthened the constitution of the enterprise internally, especially in corporate governance, and has done a very good job; externally, she is responsible for the overseas layout of Shin Kong Life, and the report card handed over by her is also very eye-catching.
Shin Kong "Second Princess" Wu Xinru
Compared with the strong personality of the eldest sister Wu Xinying, the career map of the younger sister and the "second princess" of Xinguang Wu Xinru covers a variety of fields such as financial control, hospitals, and department stores, and her personality is optimistic, it seems that there is nothing to bother her in life and even work.
Many people say that Wu Xinru, the "second princess" who likes the screen, is particularly similar to the Korean drama star Qian Songyi, and she herself has said that when she sees herself on the screen, it is as if she is Qian Songyi.
Referring to her sister Wu Xinying, in an interview, Wu Xinru said that she and her sister had fewer disputes over different opinions when they took over the business, "The quarrel was over when they were young!" ”
In terms of daily management and creativity of the enterprise, Wu Xinru said that her sister Wu Xinying is the main, she is the supplement, and the two of them work together if they have dreams.
Wu Xinru
Wu Xinru said that she usually does things, must first plan carefully, once the general direction is determined, there is no hesitation to hand over to the management team to implement, which is the same as her sister Wu Xinying.
In college, she chose the Department of Biochemistry in Berkeley, usa, and after 2 years of working for a biochemical consulting company in the United States, she wanted to pursue a master's degree in business administration at Columbia University. Father Wu Dongjin advised her daughter that instead of being a passer-by in a foreign country and an international student, it was better to work locally after graduation. Wu Xinru's mother, Xu Xianxian, belonged to early marriage at that time, and she also encouraged her daughter to say that although a woman will eventually get married, she will be happy with her work experience and the ability to be financially independent.
In 2008, during the financial turmoil, when Ms. Wu had just graduated from graduate school, she called her father and asked, "Should I go back to Taiwan?" Her father, Wu Dongjin, encouraged her to stay in the United States, where the financial crisis is in, "If an employer is willing to hire when the market is not good, the representative is capable; and although the environment is not in good shape, it is a better opportunity to learn how to operate in difficult situations." ”
Due to her pregnancy, Wu Xinru returned to Taiwan after working for Citibank in Hong Kong for a year and a half to become an assistant to her father Wu Dongjin and was responsible for the credit card project and financial management of the family's Shin Kong Bank. Later, she was responsible for Shin Kong Hospital, especially the establishment of the medical aesthetic department, which shows that her vision is not bad.
Many people say that as the third generation of Shin Kong, Wu Xinru has done a good job in playing multiple roles such as daughter, wife, lover, mother, and company executive. Wu Xinru also admitted that she and her grandmother Wu Guilan lived together for a long time, and her grandmother was a woman with very traditional virtues and was deeply influenced by her.
Wu Xinru revealed that Grandma Wu Guilan is very particular about her hard work, and she is more than 90 years old, and she must paint makeup and get her hair done before going out every time, even if she is admitted to the hospital. Once, she went to visit her grandmother in the hospital and was surprised and asked, "Grandma! How do you wear perfect and hair!? Grandma said she didn't want people to think she was a patient. Usually, Wu Guilan often tells her granddaughter to wear light makeup when she goes out, don't think that she is very comfortable, and others may not be comfortable when they see it. From this point of view, family style and tutoring are also important thrusts for the family business to continue to decline for a hundred years.
Mrs. Wu Huoshi, the founder of Shin Kong Group, and Wu Guilan, the "Grandma of Shin Kong"
Wu Huoshi died on October 18, 1986 at the age of 68. Due to a heart attack, Sunbeam founder Wu Huoshi died suddenly, and it was too late to leave a will and arrange for succession. Before Wu Huoshi died, in addition to the success of his career, the most proud thing was that his children were filial piety and the family got along well; who knew that after his death, there would be a sudden fight within the family.
Before Wu Huoshi died, his wife Wu Guilan held two positions, one to manage the house, the other to help her husband start a business, and become a good partner in his career. On the third day after Wu Huoshi's death, Wu Guilan, the patriarch, picked up the burden left by her husband at a critical moment and held a family meeting to designate her eldest son Wu Dongjin to succeed him as the head of the main enterprise of Xinguang Group. Many academic articles in the field of inheritance have included the "hasty" arrangement of the patriarch Wu Guilan in the case of failed succession that lacks planning and hasty succession, the reason for which is to lay hidden dangers for the future Wall of the Wu brothers.
In fact, this understanding is wrong for three reasons: (1) It takes time to plan for inheritance. Sunbeam Group is a family business with strong colors, the founder Wu Huoshi died suddenly, Wu Huoshi's eldest brother Wu Jinlong and third brother Wu Jinhu are still alive, and work in the family business, "dragon, lion, tiger" three brothers, is the core figure of Sunbeam's early entrepreneurship. Wu Guilan's appointment of his eldest son, Wu Dongjin, to take over was also an urgent arrangement.
Brothers Wu Dongjin (2nd from right) and Wu Dongliang (2nd from left).
(2) Wu Dongjin, the second-generation successor and the eldest son of Wu Huoshi, has a good succession experience in advance, and his appointment as successor is in fact only one "baton handing" instruction from Wu Huoshi, in addition, traditionally it is also the eldest son who crosses the baton. Wu Dongjin, born in 1945, he participated in the family business earlier, starting from the grassroots, from the staff, factory director, department manager, deputy general manager, etc., to the chairman of Xinguang Group, and he was also working all the way.
(3) Wu Dongjin's wife, Xu Xianxian, and her father Xu Shengfa were figures who straddled the political and business circles and had deep connections. Judging from the subsequent development of Shin Kong Group, it was also an extremely wise choice for Wu Guilan, the "Grandma of Shin Kong" to appoint Wu Dongjin to hand over the baton.
There is no family strife, in fact, there is no mountain of flames that cannot be passed. In fact, Wu Guilan's inheritance layout for the second generation of the family at that time was a model of "division of labor and division of business without separation of families", rather than separation of families. Wu Dongjin's four brothers, although "each standing on a hill", is not a complete separation, although the enterprises are operating normally alone, but still belong to the Xinguang Group, and the brothers can not be privately divided.
By November 2014, after Wu Guilan's second statement, Wu Dongliang and Wu Dongsheng's respective appointed lawyers said in interviews that the brothers had no opinion on the results of the separation and had signed a consent form.
From this point of view, the biggest enemy of the family business is the family itself, when the emotional knots are opened, many things that are not smooth will be smooth, family infighting, there is no flame mountain that can never be passed!
She will always be the "queen of topics" in the financial circle!
Corporate culture developed by Sunbeam founder Wu Huoshi
Whether it is Shin Kong Life, Shin Kong Department Store, or even Shin Kong Hospital and other group company offices, the wall will display the corporate culture formulated by founder Wu Huoshi: "Maintaining the status quo is lagging behind, as long as there is optimism, there is hope." ”
Sunbeam, a famous financial holding group in Taiwan, began with the "Sunbeam Trading Company" founded by founder Wu Huoshi in 1945. In his early years, founder Wu Huoshi worked as an apprentice at the Hirano Shop opened by mitsudin Ogawa, a Japanese in Dihua Street, Taipei, and was promoted by Mitsudin Ogawa. The company named "New Light", one is not to forget their hometown Hsinchu, the other is to be grateful to read the book, the word "light" is to thank his boss Ogawa Mitsuding.
In the early morning of March 30, 2016, Mrs. Wu Huoshi, the founder of Shin Kong Group, and Wu Guilan, who was called "Shin Kong Grandma" by the group's employees, died peacefully in her sleep at the age of 97. For more than 10 years before the death of "New Kong Grandma" Wu Guilan, Wu Guilan had been the head of Sunbeam. Wu Huoshi and Wu Guilan had 6 children (four boys and two daughters) and died, and at the time of her death, Mrs. Wu had 16 grandchildren and 20 great-grandchildren under her knees.
Shin Kong Group is a diversified industry large enterprise group, before Wu Guilan's death, she served as the family flagship company Shin Kong Life, Shin Kong Synthetic Fiber, Shin Kong Construction, Shin Kong Mega, etc., as well as the eldest son Wu Dongjin controlled by Shin Kong Financial Holdings, etc. Mrs. Wu's positions include chairman, director and so on.
Today's Shin Kong Group is mainly composed of two major business layouts, "Shin Kong" and "Taiwan New". After the death of the founder Wu Huoshi, in 2002, after the opening up of the financial holding company in Taiwan, the "Shin Kong Life" led by the second generation of the family's eldest son Wu Dongjin was established, and the two financial institutions controlled by the second son Wu Dongliang, "Taishin Bank", were established, and Shin Kong Financial Holdings and Taisin Financial Holdings were established respectively. Wu Guilan, the head of Sunbeam, pushed his eldest son Wu Dongjin to succeed him before his death, and in fact, Wu Dongjin also became the second generation of Xinguang's leader.
Wu Xinying, daughter of Wu Dongjin, chairman of Shin Kong Group and CEO of Shin Kong Charity Foundation
On November 21, 2019, Ko Wen-che, chairman of the Taiwan People's Party and mayor of Taipei, led the top 12 nominees of the People's Party's non-district "legislators" to meet with the media, which made Wu Xinying, the daughter of Wu Dongjin, chairman of Sunbeam Group and ceo of The Sunbeam Charity Foundation, attract much attention from the outside world.
Wu Xinying, known as the "Princess of Shin Kong", has a black fashion shirt with dark blue jeans and black short-heeled boots, and is very fashionable and stylish.
Cross-border politics, included in the KeP People's Party's non-divisional "legislator" nominee list, Wu Xinying was elected as the deputy general manager of Shin Kong Life, has been the focus of market attention; in this regard, Wu Xinying said that he would not resign from the post of vice president of Shin Kong Life when elected.
Wu Xinying, 41, is the third generation of the Sunbeam Group family, the eldest granddaughter of the founder Wu Huoshi, the eldest daughter of Wu Dongjin, the current chairman of Sunbeam Group, holds a master's degree from London Business School and a double master's degree in Arts from Corde College of the Arts, and is currently the vice president of Shin Kong Life and the executive director of Sunbeam Charity Foundation.
Wu Xinying (right) and the "Baby King Kong Orangutan" claimed by the Sunbeam Foundation
Wu Xinying has been called the "queen of topics" in Taiwan's financial circle by the media, especially in the dispute with Li Jizhu. It is quite interesting that in Taiwan's political or financial circles, Li Jizhu is also the queen of topics, this famous "desperate three women", everything is very hard, and her subordinates are afraid of her.
However, The "Two Women's War" of Shin Kong finally ended in a truce, and later, the "Princess of Shin Kong" Wu Xinying stepped down as the director of Shin Kong Gold, and the legal representative of Xincheng Investment, who was previously appointed by Wu Xinying, was also appointed by her sister, Wu Xinru, the second daughter of Wu Dongjin, the head of Shin Kong, and "the king did not see the king", and the head Wu Dongjin made concessions again for the "harmony" of the board of directors.
In 2016, Wu Dongjin, chairman of Shin Kong Group, poached Taiwan's most beautiful banker Li Jizhu "parachute", thus setting off the "2 women war" between Sunbeam Princess Wu Xinying and the new general manager Li Jizhu.
At the board of directors in late April of that year, Wu Xinying, the hot princess, blurted out spicy speeches such as "Your age, you can be my mother" in front of General Manager Li Jizhu, and accused Li of not setting KPIs (key performance indicators). Since then, Wu Xinying has frequently choked on Li Jizhu, making the company's board of directors smell of smoke.
On June 30, 2017, Shin Kong Gold held a board meeting, 100% of the directors attended, confirmed that Sunbeam Second Princess Wu Xinru as the legal representative of Xincheng Investment, let Wu Xinying remove the director of Shin Kong Gold, is to end the "double sister fight" so that the "2 women war" to draw a rest, but also to let Li Jizhu better dominate corporate governance.
Lee Ji-joo
The late Taiwanese writer Li Ao said that Li Jizhu was a "charming woman" with a unique style. For Li Jizhu's learning and beauty, Li Ao used the word "the brightest".
Li Jizhu, born in 1960, is a full-time professor at the Economic Policy Research Center and department of economics of Taiwan National Chengchi University, and has served as the chairman of Taiwan's "Legislative Yuan", "Executive Yuan" Youth Auxiliary Committee, vice chairman of the "Financial Management Commission", chairman of the China Post Corporation, chairman of the Taiwan Financial Holding Company and chairman of the Bank of Taiwan, and has been praised by public opinion as "Taiwan's most beautiful banker".
On August 26, 2016, Taiwan's major media published a sensational explosive news in Taiwan's financial circles: "With an annual salary of tens of millions, Li Jizhu has become the first female general manager of Sunbeam Group in more than 70 years." At that time, the board of directors of Taiwan Shin Kong Financial Holdings unanimously approved the appointment of Li Jizhu as the general manager of Sunbeam Financial Holdings. Wu Dongjin, the head of Shin Kong Group, poached Li Jizhu and spent more than 10 million yuan on gifts.
In the field of taiwan's financial holdings, Shin Kong Gold has considerable influence, and the top three card-issuing banks in Taiwan are controlled by the Wu family of Shin Kong Group, the Gu family of CITIC Group and the Cai family of Cathay Pacific Group.
In fact, at that time, many financial observers had such a worry: Li Jizhu, who has always worked hard, and Wu Xinying, the famous princess of Xinguang, inevitably staged the "double sister fight" plot.
Wu Xinying and Lin Zhiyan (1st from right) face the court
Wu Xinying's personality is hot and hot, when the media broke the news that she and Li Jizhu often quarreled fiercely on the board of directors, they were not happy that Li Jizhu had a bad control, resulting in losses in the company; among them, even choked out "Your age can be my mother", Li Jizhu was angry enough to resign many times, and was comforted by the leader Wu Dongjin.
After Li Jizhu became the vice chairman of Sunbeam Financial Holdings, the knot between her and "Princess Of New Light" Wu Xinying remained unopened.
In fact, in addition to the "2 women's war", another explosive point of Wu Xinying is the marriage storm with Lin Zhiyan, vice chairman of South China Bank. Looking back, the rich marriage of the "good couple Tiancheng" in the past later became a "prince" and a "princess" and a marriage change, which has a lot to do with Wu Xinying's strong sense of enterprise.
Wu Xinying and Lin Zhiyan, when they stayed in the United States, became acquainted, and when they were studying at Harvard University, Lin Zhiyan helped Wu Xinying, who was 9 years younger, to make a report and began to have a relationship. For his daughter's "good couple Tiancheng" marriage, the father Wu Dongjin was broken. The wedding was quite luxurious, the team of people ma Hao, many people said that wulin two financial holdings total assets of up to 4 trillion yuan, enough to rewrite the territory of Taiwan's financial circle.
Although Wu Xinying is famous, she is very interested in Shin Kong Family Business. After graduation, Wu Xinying entered her father's career, and Wu Dongjin also loved this palm pearl and gave successor training. Wu Lin and wu Lin were in love for 10 years before they got married, which has a lot to do with Wu Xinying's strong sense of enterprise; during this period, Wu Xinying has successively handled matters such as financial control personnel restructuring and investment strategy turning, and also suffered a subprime mortgage crisis in 2008, losing more than 20 billion yuan.
Wu Lin's marriage was originally expected by the families of both sides, but because of his concern for his career, he became a stop-and-go and almost failed. Everyone can't afford to wait, Wu Xinying's sister Wu Xinru, before her sister got married, seeing Lin Zhiyan immediately run 40, still the marriage has been finalized, the wedding has not progressed.
Wu Xinying (2nd from left) participates in public welfare activities
Just over a year after the marriage, the "prince and princess" made a marriage change, and one day in September 2014, Lin Zhiyan and Wu Xinying went to court for the first time and started a divorce lawsuit. At that time, in the face of the media, Wu Xinying, who had an iron heart, said: "Between people, the fate is gathered, the fate is scattered, the heart is grateful, and the sincere blessing is." ”
The lawsuit lasted for five years, and it was not until january 2019 that the verdict was changed to leave. However, the judgment also requires that once divorced, the "IVF" embryos must be forcibly destroyed according to law, and Wu Xinying's dream of "being a mother" has also been shattered.
Wu Xinying also revealed on her Facebook that she did not want to divorce, she has undergone artificial insemination, "there are 7 little lives" waiting for her. At that time, she also said that her biggest wish was that the embryos still in the hospital freezer would be conceived one day.
After the marriage change, Wu Xinying devoted herself to the family business, and many people said that "Princess Xinguang" Wu Xinying had changed!
When Wu Xinying first took office a few years ago, she always showed that she had a "green" side of succession, and always spoke harshly about the old ministers and executives. Once, when Wu Xinying sat in the exclusive elevator of the Shin Kong skyscraper towering in front of Taipei Railway Station, it went straight to the conference room on the 37th floor. The executives in the meeting, as soon as they heard the "click" footsteps from the rhinestone high heels from far and near, knew that the choking princess was coming. At the meeting, Wu Xinying at that time showed a commanding and arbitrary temperament, mixed in Chinese and English, and the volume became louder and louder, reprimanding xu Peng, vice chairman of The Nearly 70-year-old Financial Holdings, Xu Shunxun, deputy general manager with white hair, and other uncles and senior executives.
Her father, Wu Dongjin, once said of her: "Too arbitrary, too impatient!" ”
Wu Xinying, the "Princess of New Light" when studying in the United States
As Chinese entrepreneurs gradually grow old, it is a matter of sooner or later to find someone to take over, and many entrepreneurs of the previous generation cannot give the "scepter" to their children, mainly those "second generations" have their own plans to build their own personal careers.
But Princess Wu Xinying of Xinguang is very interested in her family business, the willingness to succeed is very strong, and her father Wu Dongjin is also deliberately cultivated, but why do you still need to find a professional manager, Li Jizhu and other financial bigwigs to "take charge"?
Succession is not an easy task, and it is not enough to rely on the interests of the next generation, but also to see whether it is appropriate or not. The succession of the second generation and the third generation of enterprises not only depends on whether they have money and power, they are different from the previous generation of founders who started from scratch, but also depends on how they make good use of the existing key resources in terms of experience and relationships.
Family inheritance is not only the inheritance of ownership, management rights, and industry, but also the inheritance of enterprise spirit, culture and relationship. The relationship inheritance includes not only the connection with external relations with government departments, social and business partners, but also the internal relationship with corporate executives, especially the old ministers at the management level. In short, these relationships are valuable relationships established by the previous generation (some second and third generations) entrepreneurs, a huge wealth and intangible asset, which are crucial to the development of the enterprise, and even make the next generation of successors work with half the effort.
In the past, in order to extend Li Jizhu's "spoon", Wu Dongjin had "three Gu Maolu", it should be said that with Li Jizhu's financial expertise, he could definitely calm down those veterans and customers of Xinguang, but he was not in line with wu Xinying, the "Princess of Xinguang", which was also unexpected by Wu Dongjin. From this point of view, ask professional managers to take the helm, but also consider the feelings of family members, and layout and plan the corporate governance system, otherwise it will make a fuss, it will also "chicken flying dog jumping", not peaceful.
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