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Meng Wanzhou on the inauguration of the rotating chairman: Huawei is collective leadership, not personal succession

Meng Wanzhou talks about being appointed as the rotating chairman: Huawei is a collective leader, not an individual successor

Huawei released its 2022 annual report today. The report shows that Huawei’s overall operations are stable, with global sales revenue of 642.3 billion CNY, a year-on-year increase of 0.9%, and net profit of 35.6 billion CNY, a year-on-year decline of 68.7%. Facing the future, Huawei continues to increase R&D investment. In 2022, R&D investment will reach 161.5 billion CNY, accounting for 25.1% of the annual revenue. The cumulative R&D expenses invested in ten years will exceed 977.3 billion CNY.

At the press conference of Huawei’s 2022 annual report, Xu Zhijun, Huawei’s rotating chairman, and Huawei CFO Meng Wanzhou attended the press conference.

Meng Wanzhou said that after taking office as the rotating chairman, the corporate governance charter clearly stated that Huawei is a collective leader, not an individual successor, and will not place the fate of the company on individuals. The company’s governance rules clearly define the responsibilities of the rotating chairman. I am the same as the other two rotating chairmen and will be supervised by the company’s board of directors.

Regarding the introduction of talent, Meng Wanzhou said that Huawei does not rely on academic theories. No matter what kind of talents they are, as long as they match the job requirements and are good enough, we welcome them. Although the company is under pressure, it will continue to welcome outstanding talents to join.

Meng Wanzhou said, “From two perspectives, our customers and partners still believe in Huawei and choose Huawei; secondly, at the end of last year, our net cash balance was 176.3 billion CNY, which can support most of our business plans. , we still exist and will continue to exist.” She also said, “I firmly believe that as long as we continue to struggle and never give up, every minute of our time and every effort will not be wasted, and we may not succeed. , but we live to die, how can we not be benevolent?”

Huawei released the “Announcement on the Duty of the Company’s Rotating Chairman” today, stating that according to the company’s rotating chairman system, Ms. Meng Wanzhou will be the rotating chairman from April 1st to September 30th. The rotating chairman is the highest leader of the company during his duty, presiding over the company’s board of directors and the standing committee of the board of directors.

It is learned from Huawei’s official website that Meng Wanzhou graduated from Huazhong University of Science and Technology with a master’s degree. Joined Huawei in 1993. He has successively served as the company’s international accounting director, the chief financial officer of Huawei Hong Kong, and president of the accounting management department. Current Vice Chairman, Rotating Chairman

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James Lopez
James Lopezhttps://www.techgoing.com
James Lopez joined Techgoing as Senior News Editor in 2022. He's been a tech blogger since before the word was invented, and will never log off.

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