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Midea Group: Founder to CEO Succession
內容大綱
Midea Group Co., Ltd. was a white goods empire built by its Chinese founder over several decades; consequently, the Midea brand led the home appliance industry in China. In August 2012, the 70-year-old founder and chairman retired as board chairman. The founder's chosen successor was a 45-year-old professional manager and the former chairman and chief executive officer of one of Midea Group's firms. This manager faced a grim situation as he took over the position: business performance was plummeting, Midea Group was urgently in need of a strategic transformation, senior management would likely resist taking orders from him, and, at a basic level, the organization was overstaffed and ineffective. In addition, many senior managers felt that the founder's son would have been a better choice as successor to his father, following Chinese cultural traditions. The manager knew that changes would be necessary to help Midea Group thrive, but such changes were complicated by complex organizational structures and the countless subcultures caused by Midea Group's former growth-oriented focus. How could the company successfully navigate this succession process?