Hu Maoyuan, chairman of SAIC, was sent off
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In 2010, or will be the end of an era. While Dongfeng Motor Company made personnel adjustments on a large scale, Hu Maoyuan, the head of SAIC Motor Corporation, China's largest auto group, has also become one of the protagonists in the high-level personnel changes in the automotive industry.
According to sources, Hu Maoyuan, 59, will retire in advance from the position of chairman of SAIC Motor in 2010. If this news is true, it means the end of an era. Hu Maoyuan, Miao Wei, and Yan Yanfeng were also known as the “three young commanders†of the Chinese auto industry. It was during their leadership of the three major auto groups that the Chinese auto industry made great progress and laid the foundation for China to replace the United States as the world’s largest auto market. A solid foundation.
Is about to turn 59
He was informed that there was news that the current Chairman of SAIC Group Hu Maoyuan will step down in 2010. Hu Maoyuan, who was born in April 1951, is about to turn 59, and the age factor is the basis of this rumor. A source said that prior to his formal retirement, Hu Maoyuan may be retired to the second line from SAIC Chairman's position one year ahead of schedule.
For this rumor, Zhu Xiangjun, deputy director of the SAIC President Office, a spokesperson, and head of the public relations department of SAIC , told the Times Weekly that there is no news of Hu Maoyuan’s departure from office.
As one of the most prestigious entrepreneurs in the Chinese automobile industry, Hu Maoyuan has served as the director of the Shanghai Tractor Factory, deputy general manager and vice president of Shanghai Automotive Industry Corporation since February 1983. Since September 1995, he has been concurrently the General Manager of the Pudong Car Project Group of the Shanghai Automotive Industry Group Corporation and General Manager of Shanghai General Motors Corporation. In July 1999, Hu Maoyuan was promoted to the president of the Shanghai Automotive Industry Corporation. He is currently the Chairman and Secretary of the Party Committee of the Shanghai Automotive Industry Corporation (Group) Corporation, the Chairman and Secretary of the Party Committee of SAIC Motor Corporation, and the Chairman of the China Automobile Industry Association.
At that time, Miao Wei, the general manager of the former Dongfeng Motor Company, and Hu Yanyuan, the general manager of FAW Group, had joined the political arena. The former is currently the Deputy Minister of the Ministry of Industry and Information, and the latter is the Deputy Governor of Jilin Province, who is in charge of industry. Only Hu Maoyuan still insists on the front line of the Chinese automobile industry.
Great achievements on appointment
During his stay at the palm, Hu Maoyuan made remarkable achievements. Among the "2005 Most Influential Corporate Leaders" selected by Time magazine, Hu Maoyuan ranked 24th.
In 2004, SAIC Group entered the world's top 500 companies for the first time. In 2007, SAIC Motor ranked among the Fortune 500 companies for the third time with 18.01 billion US dollars in sales revenue, ranking 402th. In 2008, SAIC Group consolidated sales of $22.6 billion in the previous fiscal year, ranking among Fortune 500 companies for the fourth time in a row, ranking 373th.
According to the latest data released by SAIC, in 2009, the Group sold 2.72 million vehicles throughout the year, an increase of 57% year-on-year. Its two joint ventures, Shanghai Volkswagen and Shanghai GM, each sold more than 720,000 vehicles, ranking the top two Chinese passenger car manufacturers. SAIC's own brand Roewe also achieved profitability in 2009.
There is a small regret
In addition to strengthening cooperation with foreign partners, Hu Maoyuan also constantly seeks breakthroughs in independent innovation and asset restructuring in order to strengthen SAIC's strength.
In July 2001, SAIC signed a cooperation agreement with General Motors and Wuling Automobile Co., Ltd. of Liuzhou, Guangxi and officially entered Liuzhou Wuling to fill the gap in SAIC's market segment. In 2009, SAIC-GM-Wuling contributed more than 100 to SAIC. 10,000 sales.
On December 7, 2005, SAIC and Fiat’s Iveco signed a framework agreement for commercial vehicle cooperation. Subsequently, on December 15th of the same year, SAIC and Iveco signed an agreement with Chongqing Heavy-duty Truck Group to reorganize the first framework of Chongqing Heavy Duty Truck. The agreement ended the history that SAIC Motor could not build a commercial vehicle.
On December 26, 2007, SAIC Motor Corporation also acquired the entire automotive business of the controlling shareholder of the Nanjing Automobile Group, Yuejin Group, for 2.095 billion yuan in cash and Shanghai Automotive's 320 million shares, making it one of the largest auto groups in China.
In the international market, SAIC Group also continues to expand. After spending US$59.7 million in October 2002 to purchase 10% of GM Daewoo, SAIC bought the Rover’s 25, 75-series sedan and engine intellectual property at a low price of 67 million pounds, which laid a solid foundation for building Roewe. basis. National Securities Auto Industry Analyst Cao He told Times Weekly that overall, the SAIC Group's acquisition of the Rover brand was successful, especially for the SAIC Motor Group to provide its own brand cars provide great support.
In October 2004, SAIC Motor Group also entered into an acquisition agreement with Ssangyong Motors Korea. In January 2005, SAIC Motor Group obtained a 49.82% stake in South Korea’s Ssangyong Motor Co., Ltd., a business dilemma, at a price of US$500 million. It became the largest shareholder and has since increased its holdings in the secondary market, eventually accounting for 51.33 shares. %, has achieved absolute control of the status.
However, the Ssangyong trade union’s toughness eventually became the source of SAIC's frustration. With the long strike of the Ssangyong Motor Union and the support of South Korea’s local public opinion, SsangYong's stock price fell from 10,000 won to more than 1,000 won, and only the stock price dropped, causing SAIC to lose 500 billion won.
On December 17, 2009, the Central District Court of Seoul, South Korea announced that Ssangyong Motor’s “rebirth plan†has been approved by the hospital. According to the plan, SAIC Motor’s stake in Ssangyong Motor will be reduced from 51.3% to 11.2%. This may be a small regret for Hu Maoyuan.