Wu Changjiang Vs阎焱: The contest between the Yangtze River and the three fires
Wu Changjiang: You are a cold-blooded investor. What is good for him is written on paper, and the unfavorable verbal promise is not honored. Hey: Wu Changjiang has no credit and does not speak honesty. It will be a card of sadness and nationalism.
"Warmly welcome our spiritual leaders to return", "Wu Zong, NVC is born for you, because of your name, welcome back"... In August, the Huizhou NVC Industrial Park is full of warm and affectionate Wu" banner.
Wu Changjiang sat down and sighed, his eyes were reddish and he was deeply exhausted. He just finished the meeting with the 30-40 NVC lighting management team. The core is to keep the brothers in their posts. "NVC, we all love him. We just want him to be an old man with three cancers, even if there is only one. We can live with the moon, and we must do our best to be loyal."
A veteran of the scene began to cry first, and then all the people burst into tears.
Just two days ago, NVC Lighting Board explicitly rejected the return of founder Wu Changjiang, including Wu Changjiang suspected of being tied to the interests of dealers and operating real estate in Wanzhou, Chongqing. What Wu Changjiang can do now is to hold a special shareholders meeting and strive to return to the board of directors.
"If all the shareholders don't support me back, then I have to follow the rules of the game and leave the company. I can't afford to let go, at most, nothing."
"Wu always left, what do you do?" Xu Fengyun, vice president of NVC, who just submitted his resignation report, said: "If Wu has nothing, I will follow him to dinner!"
The disaster "Chongqing"
On May 25, NVC Lighting suddenly issued a notice: Wu Changjiang, who is close to the “Knowledge Destinyâ€, resigned as the chairman and CEO of NVC Lighting. The second shareholder of Softbank Saifu, the chief partner, took over as chairman and the CEO position was three. Shareholder Schneider executive Zhang Kaipeng replaced.
At that time, Wu Changjiang was assisting in the investigation--he had hired a consultant from Chongqing for an annual salary of 1.5 million yuan for a contract period of three years. The consultant involved the case of the former Chongqing Nanan District Party Committee Secretary Xia Zeliang.
"I told you on the 19th that one of my consultants involved a case in Chongqing and asked me to cooperate with the investigation. At that time, I was abroad. He said, you should avoid it and don't come back abroad."
"He told me to resign on the 20th, saying that it is to protect the company and protect shareholders. I asked the secretary to write a resignation report and only resigned as CEO. On the 21st, he asked me to resign all positions including the chairman. A standard version of the good one, called me to sign the scan and then pass it back. At that time, he said that as soon as you return to China, you will come back to continue to be the chairman and CEO, I believe."
It’s easy to leave, and it’s hard to come back.
Confidence of self-confidence
At that time, Wu Changjiang had a brave heart, strong control, and firmly believed that he could control the situation.
What is he not confident about? In the early 1990s, he gave up the “Golden Rice Bowl†of Shaanxi Hanzhong Airlines and chose to start a business in the south. In 2005, he disregarded the strong opposition of the two entrepreneurial shareholders and insisted on increasing investment in the big NVC. Into, in the voice of the dealers, "please" went to the former partner of disagreement.
When accepting Softbank Safran’s capital injection, someone reminded him whether this would “lead the wolf into the room†and bury hidden dangers. For example, the investment is rarely missed, the rate of return is extremely high, and the excellent record makes him confident and conceited. What if two "love control" people come together? In this regard, Wu Changjiang said, "I am a person who does things. Investors including Goldman Sachs and Softbank Saifu like me very much. I highly value myself. I have to do it for NVC."
Wu Changjiang even sold the seats on the board. "I think we are a cooperative relationship. The shares are almost the same, and there is no problem for the board seats." The hidden dangers are buried.
"Yangtze River" and "Three Fires"
In the board of directors formed in 2006, as the founder and major shareholder, Wu Changjiang has two seats, and Saifu also has two seats. Safford has a priority veto in major projects and corporate strategic decisions. What Wu Changjiang wants to do, as long as he shakes his head, it is very difficult to make a trip.
In August 2008, Wu Changjiang planned to acquire a lighting company in the UK. In Wu's view, 100,000 pounds was simply the floor price, but this proposal was denied on the board of directors on the grounds that there were few successful precedents for overseas acquisitions. In the end, Wu Changjiang personally acquired the company. Until May last year, after the company made a profit, NVC paid 1.5 million of the principal to Wu Changjiang. “There are hundreds of millions of dollars in a year, and it is the top ten lighting company in the UK.â€
For Wu Changjiang, the board of directors must not be a pleasant place. Wu Changjiang is loyal, family-oriented and even a river-and-water management model, making Saifu quite uncomfortable. NVC Lighting and Wu Changjiang signed a tens of millions of dollars worth of foundry agreements in factories controlled by Chongqing Rongchang and Wanzhou, and were questioned by Safran for “interest transferâ€.
Wu Changjiang's practice of giving credit to dealers more than a random amount has been criticized. In 2011 alone, NVC gave credit to dealers as much as 400 million yuan. Regardless of the opposition of the board of directors, he insisted on the promise of "brothers", "how much bonus to others, how much stock to give, the board disagrees, I give." Some people say that Wu Changjiang is a "one-word hall" in NVC, and he is domineering.
NVC people know that "the Yangtze River water" and "three fires" (阎焱) "water and fire can not be allowed" --- I hope to use the rules of the listed company to bind NVC, "Do not act on the board, do not take the company as Already, the company can't mess with him."
But Wu Changjiang wants "home world", he appreciates Liu Bang, "Liu Bang is not as good as Han Xin, and it is better to defend the country than Xiao He. It is not as good as Zhang Liang, but he can unite these people under him and help him fight the world. I I think Liu Bang is even more amazing."
Schneider's shareholding: conspiracy or conspiracy?
In July last year, Schneider started nearly 300 million shares of NVC Lighting at a price of HK$4.42 per share, accounting for 9.2% of the company's shares. At the same time, it was allowed to enter the NVC China distribution network and cooperate in engineering sales.
"Because he (Schneider) is looking at NVC's most valuable sales network, why did NVC choose Schneider and see his resources in the engineering field, resource sharing, complementary advantages, this is a win-win situation, I believe NVC will develop in the future. Faster and more stable. In order to introduce Schneider, Wu did not hesitate to sell more than 90 million shares of NVC. Wu Changjiang said, "It seems that I was too confident and idealized at the time."
With Schneider's shareholding in NVC at a premium of 12%, the proportions of Saifu and Wu Changjiang were diluted to 18.48% and 18.41% respectively. The status of the two has not changed, and Schneider became the third largest shareholder.
The contradiction between Wu Changjiang and Yu was intensified after the introduction of Schneider. "At the end of last year, they repeatedly proposed to replace my vice president of marketing with Schneider's Li Rui; in March this year, I said that the chairman and CEO can't be alone. NVC's advantage lies in the channel. They changed my people and wanted to decentralize."
Does Schneider have a "conspiracy" to annex NVC? Wu Changjiang said that this is a false proposition. Schneider is obviously a "yangmou". "Schneider sees that NVC is nothing more than a channel. Everyone knows well. But I am a driving person. Whether it is Saifu's 阎焱Still Schneider, they are just people who ride."
"Warmly welcome our spiritual leaders to return", "Wu Zong, NVC is born for you, because of your name, welcome back"... In August, the Huizhou NVC Industrial Park is full of warm and affectionate Wu" banner.
Wu Changjiang sat down and sighed, his eyes were reddish and he was deeply exhausted. He just finished the meeting with the 30-40 NVC lighting management team. The core is to keep the brothers in their posts. "NVC, we all love him. We just want him to be an old man with three cancers, even if there is only one. We can live with the moon, and we must do our best to be loyal."
A veteran of the scene began to cry first, and then all the people burst into tears.
Just two days ago, NVC Lighting Board explicitly rejected the return of founder Wu Changjiang, including Wu Changjiang suspected of being tied to the interests of dealers and operating real estate in Wanzhou, Chongqing. What Wu Changjiang can do now is to hold a special shareholders meeting and strive to return to the board of directors.
"If all the shareholders don't support me back, then I have to follow the rules of the game and leave the company. I can't afford to let go, at most, nothing."
"Wu always left, what do you do?" Xu Fengyun, vice president of NVC, who just submitted his resignation report, said: "If Wu has nothing, I will follow him to dinner!"
The disaster "Chongqing"
On May 25, NVC Lighting suddenly issued a notice: Wu Changjiang, who is close to the “Knowledge Destinyâ€, resigned as the chairman and CEO of NVC Lighting. The second shareholder of Softbank Saifu, the chief partner, took over as chairman and the CEO position was three. Shareholder Schneider executive Zhang Kaipeng replaced.
At that time, Wu Changjiang was assisting in the investigation--he had hired a consultant from Chongqing for an annual salary of 1.5 million yuan for a contract period of three years. The consultant involved the case of the former Chongqing Nanan District Party Committee Secretary Xia Zeliang.
"I told you on the 19th that one of my consultants involved a case in Chongqing and asked me to cooperate with the investigation. At that time, I was abroad. He said, you should avoid it and don't come back abroad."
"He told me to resign on the 20th, saying that it is to protect the company and protect shareholders. I asked the secretary to write a resignation report and only resigned as CEO. On the 21st, he asked me to resign all positions including the chairman. A standard version of the good one, called me to sign the scan and then pass it back. At that time, he said that as soon as you return to China, you will come back to continue to be the chairman and CEO, I believe."
It’s easy to leave, and it’s hard to come back.
Confidence of self-confidence
At that time, Wu Changjiang had a brave heart, strong control, and firmly believed that he could control the situation.
What is he not confident about? In the early 1990s, he gave up the “Golden Rice Bowl†of Shaanxi Hanzhong Airlines and chose to start a business in the south. In 2005, he disregarded the strong opposition of the two entrepreneurial shareholders and insisted on increasing investment in the big NVC. Into, in the voice of the dealers, "please" went to the former partner of disagreement.
When accepting Softbank Safran’s capital injection, someone reminded him whether this would “lead the wolf into the room†and bury hidden dangers. For example, the investment is rarely missed, the rate of return is extremely high, and the excellent record makes him confident and conceited. What if two "love control" people come together? In this regard, Wu Changjiang said, "I am a person who does things. Investors including Goldman Sachs and Softbank Saifu like me very much. I highly value myself. I have to do it for NVC."
Wu Changjiang even sold the seats on the board. "I think we are a cooperative relationship. The shares are almost the same, and there is no problem for the board seats." The hidden dangers are buried.
"Yangtze River" and "Three Fires"
In the board of directors formed in 2006, as the founder and major shareholder, Wu Changjiang has two seats, and Saifu also has two seats. Safford has a priority veto in major projects and corporate strategic decisions. What Wu Changjiang wants to do, as long as he shakes his head, it is very difficult to make a trip.
In August 2008, Wu Changjiang planned to acquire a lighting company in the UK. In Wu's view, 100,000 pounds was simply the floor price, but this proposal was denied on the board of directors on the grounds that there were few successful precedents for overseas acquisitions. In the end, Wu Changjiang personally acquired the company. Until May last year, after the company made a profit, NVC paid 1.5 million of the principal to Wu Changjiang. “There are hundreds of millions of dollars in a year, and it is the top ten lighting company in the UK.â€
For Wu Changjiang, the board of directors must not be a pleasant place. Wu Changjiang is loyal, family-oriented and even a river-and-water management model, making Saifu quite uncomfortable. NVC Lighting and Wu Changjiang signed a tens of millions of dollars worth of foundry agreements in factories controlled by Chongqing Rongchang and Wanzhou, and were questioned by Safran for “interest transferâ€.
Wu Changjiang's practice of giving credit to dealers more than a random amount has been criticized. In 2011 alone, NVC gave credit to dealers as much as 400 million yuan. Regardless of the opposition of the board of directors, he insisted on the promise of "brothers", "how much bonus to others, how much stock to give, the board disagrees, I give." Some people say that Wu Changjiang is a "one-word hall" in NVC, and he is domineering.
NVC people know that "the Yangtze River water" and "three fires" (阎焱) "water and fire can not be allowed" --- I hope to use the rules of the listed company to bind NVC, "Do not act on the board, do not take the company as Already, the company can't mess with him."
But Wu Changjiang wants "home world", he appreciates Liu Bang, "Liu Bang is not as good as Han Xin, and it is better to defend the country than Xiao He. It is not as good as Zhang Liang, but he can unite these people under him and help him fight the world. I I think Liu Bang is even more amazing."
Schneider's shareholding: conspiracy or conspiracy?
In July last year, Schneider started nearly 300 million shares of NVC Lighting at a price of HK$4.42 per share, accounting for 9.2% of the company's shares. At the same time, it was allowed to enter the NVC China distribution network and cooperate in engineering sales.
"Because he (Schneider) is looking at NVC's most valuable sales network, why did NVC choose Schneider and see his resources in the engineering field, resource sharing, complementary advantages, this is a win-win situation, I believe NVC will develop in the future. Faster and more stable. In order to introduce Schneider, Wu did not hesitate to sell more than 90 million shares of NVC. Wu Changjiang said, "It seems that I was too confident and idealized at the time."
With Schneider's shareholding in NVC at a premium of 12%, the proportions of Saifu and Wu Changjiang were diluted to 18.48% and 18.41% respectively. The status of the two has not changed, and Schneider became the third largest shareholder.
The contradiction between Wu Changjiang and Yu was intensified after the introduction of Schneider. "At the end of last year, they repeatedly proposed to replace my vice president of marketing with Schneider's Li Rui; in March this year, I said that the chairman and CEO can't be alone. NVC's advantage lies in the channel. They changed my people and wanted to decentralize."
Does Schneider have a "conspiracy" to annex NVC? Wu Changjiang said that this is a false proposition. Schneider is obviously a "yangmou". "Schneider sees that NVC is nothing more than a channel. Everyone knows well. But I am a driving person. Whether it is Saifu's 阎焱Still Schneider, they are just people who ride."
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