I just learned that many of China's first generation of entrepreneurs are nearing retirement. Amongst the company affected by this "transitional challenges" are Haier, Huawei and Lenovo.
For the Shenzhen based Huawei - the world's second largest telcommunications equipment maker, several top executives such as Sun Yafang (Chairperson) and Xu Zhiping (President of Products and Solutions Division) has announced that they were planning to step down. Many more will be stepping down.
In return, the founder/CEO, Ren Zhengfei want his son, Ren Ping to take over as CEO and promote his daughter, Meng Wanzhou from senior finance manager to Huawei's CFO.
This is the company that almost swallowed 3Com. Is it wise to transform such a successful company into a family dynasty?
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