Reborn in Hong Kong as a Tycoon

Chapter 129 Stabilizing the Management
In the afternoon, Lin Baicheng brought Cheng Yufeng and the financial staff to Hutchison Whampoa.

The Hutchison Whampoa management headed by Wei Li welcomed Lin Baicheng's arrival, at least on the surface, and the group went to the conference room.

"Everyone, although you should all know who I am, I think it's necessary for me to introduce myself. I, Lin Baicheng, are the bosses of Galaxy Games and Asia TV, and are also the largest shareholder of Hutchison Whampoa."

When Lin Baicheng said this, Cheng Yufeng distributed a copy of Lin Baicheng's shareholding certificate to Wei Li and others.

After Wei Li and others read it, they knew that these were true. Lin Baicheng is indeed the company's largest shareholder now.

While Wei Li and the others looked at the copy, Lin Baicheng continued: "With the shares I hold, I will automatically obtain a seat on the company's board of directors and be elected as the company's chairman. I hope everyone here can support me in managing Good company, and grow the company under my decision."

"Mr. Lin."

We had already introduced him when we met before, so Wei Li didn't introduce himself again this time. He said: "We have already made relevant plans for the company's development. Once we change the company's development direction, it may have a negative impact on the company's development Influence. I think Mr. Lin, you also don’t want what the newspaper said to happen. After you took control of the company, Mr. Lin, the company’s development became worse and worse.”

Vice President Li Chaxin also said: "Mr. Lin, we will definitely support you to manage the company well, but the development and growth of the company does not happen overnight. Now that the company's development has just improved, maintaining the original development plan is the best choose."

Xia Boyin, Wei Peter and other management also nodded in agreement.

Lin Baicheng was not surprised to see this. For a listed company, it doesn't mean that becoming the largest shareholder will immediately control the company, but also control the company's board of directors.

The shareholding ratio is high, and the shareholders' meeting is controlled, but the shareholders' meeting can't be held several times a year.The board of directors is different. The board of directors is responsible for managing the company, and the management is naturally managed by the board of directors.

At the same time, the management usually also has several people serving as directors on the board of directors. For example, Hutchison Whampoa has a total of nine directors. All five of Wei Peter are directors of the board of directors.

Once there is management support, major shareholders can smoothly control the company's board of directors and thus control the company.

Of course, it does not mean that the largest shareholder cannot control the company without the support of the management. The board of directors arranges its own people in the company so that it can gradually control the company, which takes a lot of time.

Lin Baicheng is not going to spend such a long time controlling the company. What he needs to do is to get the support of the management of Hutchison Whampoa. After all, he will go outside to find talents for Hutchison Whampoa. It takes a long time to return to normal development.

Moreover, Wei Li and others are indeed talents. Wei Li was able to develop Hutchison International, which was on the verge of bankruptcy, and merged with Whampoa Dockyard to form today's Hutchison Whampoa. The company's market value is nearly 30 billion Hong Kong dollars. His ability is beyond doubt. , and the abilities of other management are also not bad.

Lin Baicheng is going to see if he can stabilize Wei Li and other management and let them develop Hutchison Whampoa under his general plan.It would be best if Wei Li and others could continue to manage the company, and Lin Baicheng would acquire a large number of talents; if not, then he could only regretfully dismiss Wei Li and others slowly, and replace Hutchison Whampoa's management in a smooth manner.

"This is the first proposal I will submit after becoming the chairman of Hutchison Whampoa's board of directors. Please take a good look at it. I hope that I can get your support by then, just as you will support me in the development of the company from now on."

As Lin Baicheng spoke, he nodded to Cheng Yufeng. Upon seeing this, Cheng Yufeng took out some documents and distributed them to Wei Li and other high-level executives, one copy for each.

This is a proposal about the equity incentive plan. The company's management, outstanding employees, and employees who have made important contributions to the company are all within the scope of the incentive plan.

The motion proposes that the company should use 20% of the net profit of the previous year to purchase the company's stocks every year. This part of the stocks will be managed in a unified manner as an incentive for the management and outstanding talents. Each person will receive different stock incentives according to their contributions. , up to 5% of the total share capital in the incentive plan.

Only when the company makes money every year can 20% of the net profit be used to buy company stocks.And for those who receive equity incentives, their stocks are limited for a period of time, and they are not allowed to sell their stocks within three years of receiving stock incentives. If they voluntarily resign or are expelled from the company due to major negligence, they will withdraw the stock incentives for the employee, and other restrictions.

In Lin Baicheng's proposal, if the management and outstanding employees want to obtain stock incentives, they must develop the company well and prepare for several years in the company, otherwise it is meaningless to get incentive stocks.

"This is really... attractive enough!"

Looking at the bill in his hand, Wei Li admitted that he was moved, and he wished that the stock incentive bill would be passed immediately.

As the president of Hutchison Whampoa, Wei Li's salary is not low, and when he was invited to become the president, he also received an incentive contract of 2.5% of the annual net profit for five years.Based on Hutchison Whampoa's net profit of just over 250 million Hong Kong dollars last year, this incentive contract brought him as much as 300 million Hong Kong dollars in rewards, and his annual salary exceeded [-] million Hong Kong dollars.

The annual income exceeds 300 million Hong Kong dollars, which is very high, but Wei Li knows very well that the reason why he made such a good profit last year is because he sold a large number of short-term investments in the company and recovered a large amount of funds, otherwise it would be good if he did not lose money.More importantly, the expiration date of the incentive contract is 1980, and this year is already 1978.

However, in the proposal proposed by Lin Baicheng, the company provides up to 5% stock incentives for management and outstanding talents, that is, 2000 million shares. This incentive plan is not distributed equally, but distributed according to contributions. The number of stocks received must be one of the largest.

As long as Wei Li can get 100 million stock incentives, it means that he has won about 700 million Hong Kong dollars for nothing. If the company develops better and better, then his stocks will become more and more valuable.

As the highest-paid president, Wei Li was moved, let alone other people. Everyone present knew the benefits of this incentive plan for them, and no one would struggle with higher income.

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(End of this chapter)