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Text / Jiangcheng
Source: ID: sycaijing
On October 24, NASDAQ listed company Momo (NASDAQ: Momo) approved a personnel appointment: President and chief operating officer Wang Li will replace founder Tang Yan as CEO, and former CEO Tang Yan will continue to serve as chairman of the group’s board of directors. The appointment will take effect from November 1, 2020.
Sanyan finance and economics found that recently there was a wave of CEO resignations on the Internet. Not long ago, Huang Zheng, founder of pinduoduo, resigned as CEO.
It is worth noting that the CEOs of some Internet companies left their posts in their 40s. Huang Zheng, founder of pinduoduo and Duan Yongping, founder of Bubugao, chose to step down at the age of 40; Tang Yan, CEO of Momo, was only 41; Ma Yun, founder of Ali, left the post at the age of 49.
These CEOs are in their prime, so why did they choose to step down as CEO? What are they going to do after they leave office?
Duan Yongping, Huang Zheng, Tang Yan
The CEO chose to leave office at the age of 40
If you want to say that you quit the ranks of CEOs at the age of 40, you have to mention Duan Yongping, the founder of Bubugao group. He was born in 1961, founded Bubugao in 1995, and retired at the age of 40 in 2001.
It is said that he is also the person behind oppo and vivo. However, he later clarified that he did not participate in the specific operation. However, the two leaders of OV were both brothers who followed Duan Yongping from little overlord. Ov developed to today and was deeply influenced by Duan Yongping.
In 2001, bu Bugao began to spin off its business unit. Duan Yongping set up oppo with 30 million yuan, and Chen Mingyong was in charge. Its communication business unit also developed independently, which is today’s vivo, and Shen Wei is in charge.
Duan Yongping also lent money to his brothers to buy shares in the company and let the employees become the owners of the company. He has achieved benefit sharing, decentralization, and the inheritance of ideas.
Duan Yongping can be seen in oppo Chen Mingyong’s equity incentive and advertising. The business philosophy of vivo Shen Wei is also influenced by Duan Yongping, which is Duan Yongping’s favorite term.
They have made good use of the “segment concept” in deepening the market, following the industry pioneers and win-win cooperation.
Not long ago, another disciple of Duan Yongping, Huang Zheng, founder of pinduoduo, also chose to step down as CEO at the age of 40.
Huang Zheng will spend more time with the board of directors to formulate the company’s medium and long-term strategy, study and improve the corporate governance structure including the partnership mechanism, and promote the development of pinduoduo from the institutional level.
Then Tang Yan, 41, announced his resignation as CEO.
Tang Yan leaves office: not following others, but following oneself
Tang Yan is also in his 40s. It seems that he is following the steps of his predecessors. If you know Tang Yan, you will find that 80% of his resignation has nothing to do with Duan Yongping, but has his own unique personality and ideal.
More than ten years ago, Tang Yan went to Beijing alone with 2000 pieces from Loudi, Hunan Province. Although he was the chief editor of Netease, he was not as elegant as the traditional chief editor. He had a fight when he was young. He drank too much at Momo’s annual meeting. He said that his greatest ideal was to be an old fool.
Less than five months after he served as chief editor, Tang Yan decided to resign to start a business. For media people, Tang Yan’s success is a good story. A person who does content founded an Internet company and successfully listed on the stock market shows his enterprising spirit and courage.
In fact, before starting a business, Tang Yan asked his wife what to do if the business was not successful. His wife said that he would go to work. But Tang Yan thought that he didn’t want to go to work after starting a business. His wife replied that he would start a business again. Tang Yan asked again, can you sell your house if you fail again? “Yes,” said the wife. When he asked for the fourth time, Mrs. Tang Yan said that he would get a divorce. At that time, Tang Yan had several ideas in mind, and he could at least try to start a business three times.
From Tang Yan to try three times of psychological preparation, it is also doomed to Tang Yan’s inner restlessness.
At the beginning, Tang Yan’s ambition was very big. Tang Yan said, “to do it, we should make a product that needs hundreds of millions of people to use and know.”
Seeing this, you may think that Tang Yan has a strong self-confidence to start a business, but Tang Yan regards himself as the company’s mascot. He says that he can’t write code, product, design, sales and operation. But they know how to make good use of others, find people who are good at various fields, and then delegate power.
From Momo’s talent management system, we can see that Tang Yan is really a good manager, and his talent management system is worth learning from.
Tang Yan once said that the CEO of a company should only do three things: first, correct financing; second, finding key people in key positions; third, making a good strategy. It is for the philosophy of management that we should not take care of other things.
Driven by this idea, Tang Yan decided to step down as CEO.
After the adjustment, Tang Yan will explore the new business areas and boundaries of the group out of the excitement of the founders to open up new territory.
In July this year, Zhang Ying, the founding managing partner of Jingwei China, disclosed in her micro blog that Momo film had produced a film, which was the first film that Tang Yan tried to cross the border, and was shortlisted for the Venice Film Festival.
From this point of view, Tang Yan’s management philosophy is not only the result of personality. The development of a company inevitably requires the renewal and iteration of employees and executives. The founders need to put more energy on strategy and always explore new values and boundaries.
The specific management of the enterprise needs to promote talents and decentralization, which requires the company to be handed over to a generation of more energetic young people.
So who is the most suitable successor?
Wang Li: the new CEO is also overbearing
On the personnel adjustment, Tang Yan said: “I don’t think anyone is more competent to lead Momo than Wang Li. Wang Li’s experience as president and chief operating officer at Momo and his nearly 10-year career in the company make him the best candidate for the new CEO. ”
Wang Li a few years ago
According to public information, Wang Li, 37, is the founding partner of the company. He once worked with Tang Yan in NetEase. He joined the company when the company was founded. He began to serve as coo in 2014, as a director since 2017, and as president since 2018, fully responsible for the business and functions of the company.
From Wang Li’s many positions in Momo company, we can see that he has mature and rich experience in the company’s business and has his own unique views on the market.
Wang Li believes that from the perspective of population intergenerational mobility and fertility changes, the scale of young people becoming middle-aged people will also be larger than that of young people turning into young people.
He divided the mainstream middle-aged people’s concerns into three categories: tickets, bodies and children. Corresponding to money, health and future, this paper summarizes the business development of Momo in the future, and analyzes the advantages and disadvantages of Momo.
When many CEOs talk about their own company, they often only talk about the company’s advantages and disadvantages, but they don’t mention them. However, Wang Li has the courage to tell the public about the lack of Momo. This may be one of the reasons why he can become a new CEO of Momo, and it is also the career width Wang Li pursues.
In fact, many people should not be unfamiliar with Wang Li, because Wang Li once received attention and heated discussion because of a “bully president” micro blog.
Wang Li of last year
Wang Li claims that he is an overbearing president, but the typical image of a bully president is: his hair is withered and split due to excessive performance pressure, and his eyes are dazzled by lack of sleep for a long time
Although Wang Li is a little fat in 2019, he lost 20 jin in only one year. It seems that the person who is better than you is working harder than you.
Wang Li also revealed that he is a Leo, very domineering, wild personality, even Tang Yan is not in the eye. This is similar to Tang Yan.
As for the difference between himself and Tang Yan, Wang Li said in his letter to all the staff that he and Tang Yan have worked together for many years, and their personalities and experiences are different, but they are a little similar, that is, they all care about the width of life, but Tang Yan yearns for the width of the industry, and he prefers the width of his career.
Wang Li said, “Tang Yan pursues all walks of life, I pursue all walks of life. It is based on this difference that we have a new division of labor: Tang Yan Hui explores new areas and boundaries of the group’s business out of the excitement of the founders to open up new territory; I will promote the healthy, stable and sustained growth of the group’s business based on the partners’ interest in intensive work. ”
Wang Li’s personality analysis of himself and Tang Yan is not only a superficial analysis, but also an analysis of the development direction of the enterprise. Leaders with different personalities and experiences can lead the enterprise to different paths. Wang Li also proved his ability with his actual achievements.
Since Wang Li became president in April 2018, Momo’s revenue scale has been continuously expanding. In 2018, the annual revenue was 13.408.4 billion yuan, and the net profit was 3.454 billion yuan. In 2019, the annual revenue is 17.015 billion yuan, and the net profit is 4489.8 billion yuan, and the income scale continues to expand.
Wang Li said, “it has been nearly ten years since I started this company. I can always say frankly: as the denominator of the company, I have never lost my professional attitude; as a member of the company, I have never lost my entrepreneurial spirit.” It can be seen that Wang Li, as an employee or a senior manager, has maintained his professional attitude and entrepreneurial spirit, and is very suitable to be a new CEO.
When Wang Li was the president, he was fully responsible for the company’s business. Perhaps after Momo IPO was listed, Tang Yan began to consider the issue of enterprise inheritance.
From this point of view, Momo’s change of CEO is not a short-term consideration, but after a long time of excessive and investigation, Wang Li has also solved the two major problems of “establishing internal prestige and external achievements” that the company will encounter after replacing the new CEO.
Don’t love power is the cultivation of CEO
In fact, it is beneficial and harmless for a company to change its CEO at a certain development stage. An enterprise needs to go through several stages from its establishment to operation, from 0 to 1, 1 to 10, 10 to n.. Different development stages need new talents and new vision.
The change of CEO does not mean that the original CEO is incompetent, but that the long-term development of the enterprise can not always rely on the influence of personal charm. It needs to build a sustainable system, and the replacement of CEO can also stimulate new vitality.
However, it is very difficult for the leaders of an enterprise to put down their fame, wealth and power, while not loving power is the cultivation of the CEO of an enterprise.
Through effective decentralization, managers can easily assign the huge enterprise goals to different people, and transfer the responsibility to more people to share, so that each staff member of the team can work more purposefully, responsibly, and creatively.
At the same time, CEO decentralization can help enterprises reduce control, increase the autonomy of employees and executives, and make them get faster personal growth. Only when we meet the right people at the right time can we be more conducive to the development of the company.
However, Momo has come to a time of change. Now Momo’s share price is 15.39 US dollars, which is three times lower than the previous peak. Wang Li also answered this question frankly, “the change of stock price just means that the market believes in our ability to make money at this stage, and worries about our health and future. We won’t take any shortcut to change our cognition. ”
Momo’s long-term vision of changing CEO may bring enlightenment to other enterprises. While doing a good job in external operation, it should fully manage internal talents and solve the problem of enterprise inheritance. It also means that Chinese Internet entrepreneurs will be more inclined to pass on their companies to competent talents.
It remains to be seen how Wang Li will lead Momo in the future.
(statement: This article only represents the author’s point of view, not Sina’s position.)