HONG KONG, Dec 18, 2019 - Legend Holdings Corporation ( Stock Code: 3396.HK) announced that, Mr. Liu Chuanzhi, Chairman of the Board of Legend Holdings, Executive Director, and Founder of the Lenovo Group Limited will retire as the Chairman and Executive Director of the Company in accordance with a predesignated plan. He will serve as Honorary Chairman, Senior Advisor and the Member of Strategy Committee of the Board of Directors. Mr. Zhu Linan, Executive Director and the President of Legend Holdings, will resign as the President but continue to serve as Director of Legend Holdings, and he will be the Member of Strategy Committee of the Board of Directors. As a result of the recommendation from the Nomination Committee of Legend Holdings' Board of Directors and resolution passed by Board of Directors, Mr. Ning Min, the current Executive Director, Senior Vice President and Chief Financial Officer (CFO) of Legend Holdings, will succeed Mr. Liu Chuanzhi as Chairman of the Board, and Mr. Ning Min is appointed as the Chairman of the Nomination Committee and Strategy Committee. Meanwhile, Mr. Li Peng, Senior Vice President, is appointed as the Chief Executive Officer (CEO), following the resolution passed by the Board of Directors, while the Board of Directors also recommends Mr. Li Peng to serve as Executive Director. As newly established core management team, Mr. Ning Min and Mr. Li Peng, will steer the Company towards its vision and mission and beyond.
The board of directors of Legend Holdings is convinced that Mr. Ning Min has experienced a number of transformations and ground-breaking transitional phases of the Company since 1991 when he joined Legend, and he also has in-depth understanding of the Company with extensive practical experiences. He deeply understands and appreciates our corporate vision and core values. He is blessed with grand strategic insight, solid ambition and learning ability, equipped with comprehensive capabilities. Mr. Ning Min has been a long-standing member of the executive committee of Legend Holdings and has served as CFO, overseeing the Company's corporate finance and capital management, risk control and auditing and other works related to the capital market. He is also responsible for the operation and management of financial investments segment of Legend Holdings, playing a decisive role in strategy formulation, business development and organization framework building. Mr. Li Peng is considered as a distinguished senior management executive possessing a globalized perspective. During his 16-year experience in Legend Holdings, he has never failed to uphold our corporate culture and values. Moreover, he demonstrates a strong sense of obligation and has an innovative mindset. Mr. Li Peng has been providing indispensable assistance to Mr. Zhu Linan in governing strategic investments for many years. Mr. Li Peng has proved to be an outstanding senior management executive with professional judgement on and rich experience of both investment and corporate operations.
To develop corporate healthily and sustainably, "inheritance" is predominant, while talent recruitment, particularly the sourcing and nurturing of the leading figures, is one of the key engines during inheritance, which has been regarded as long-term strategic undertakings in Legend Holdings. Mr. Liu Chuanzhi said, "Legend Holdings is currently guided by a specific and concrete strategic blueprint, with experienced management team. This systematic inheritance plan was tailor designed and well prepared by Mr. Zhu Linan and me to satisfy the pressing needs of the overall corporate development and gained overwhelming support from the board of directors. This specific personnel re-assignment has been initiated in tandem with the pragmatic and long-standing development requirements of the Company. I am gratified to witness the plan was successfully implemented."
"Both Mr. Liu and I hold the same view that the core management team of Legend Holdings should be comprised of members in the prime of their lives, brimming with more innovative inspiration; they must be the new blood with an international perspective,' Mr. Zhu Linan stated, 'both Mr. Ning Min and Mr. Li Peng are leading elites of strong integrity and qualification, ambitious and blessed with forward-looking insights. They are genuinely imbued with our corporate vision "serve the country with industrialization", along with the guiding ideology "aim high and fly high but always keep your feet on the ground." They both have also withstood severe challenges when serving on the front lines, making great contributions during the transitional phases of Legend Holdings. As a result, they have received full recognition from the board of directors as well as the general staff alike. We are confident with this new core management team made up by Mr. Ning Min and Mr. Li Peng."
Curtain Call on the Founder's Tenure with His Aspiration Inherited onto the Future
Mr. Liu Chuanzhi, the founder of Legend, was born in 1944. In 1984, at the age of 40, with the reform and opening-up in China, Mr. Liu Chuanzhi responded to the "industrialization of technology" initiated by the Chinese Academy of Sciences, and embarked on a voyage of entrepreneurship. During the past 35 years, Mr. Liu has kept aiming at higher targets and presiding over a series of successful reforms, which has laid a solid foundation for the Company's sustainable development. This has allowed Legend to grow despite the inevitable boom and bust in the economic cycle.
The Board of Directors of Legend Holdings appraised Mr. Liu Chuanzhi: As both the founder and guiding force of Legend, Mr. Liu Chuanzhi led this company to build the vision "serve the country with industrialization" with his distinctive foresight and perseverance. The Company continues to expand its global footprint and put forth relentless efforts to cultivate new talents, and has therefore developed a business layout that covers strategic and financial investments as well as the Chinese and overseas markets. During this 35-year journey, Mr. Liu has pressed ahead with developing the corporate institutions and mechanisms, summarizing the management theory and building corporate culture. All these contributions have generated a profound influence on the long-standing development of the Company. At the same time, Mr. Liu advocates the commercial civilization in earnest and fulfills the corporate social responsibility. He is committed to passing down the spirit of "be a good person, do good deeds, and set a good example to society" from generation to generation in Legend. Beyond all the afore mentioned, Mr. Liu Chuanzhi has promoted China's innovative transition toward an information-based society through Legend's practice. Therefore, serving as the "Pioneer of Science and Technology Industrialization", Mr. Liu was accredited with the honorable title "Reform Pioneer" awarded by the Central Committee of the Communist Party of China and the State Council. Mr. Liu has also led Legend to gain the upper hand in facing fierce competition from international players in the domestic market. Applying strategies such as investments and mergers and acquisitions, the Company has succeeded in expanding overseas footprint, and accumulated valuable experience for Chinese companies to "go global". Mr. Liu has successfully implemented the shareholding reform of enterprise and also blazed a trail of structural reform for high-tech enterprises under scientific research institutes in China. Mr. Liu keeps close sight on studying the corporate management, summarizing and proposing the "three elements of Legend-style leadership", providing helpful references to many other companies.
Source: www.acnnewswire.com/press-release/english/56365/
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