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Haier CEO, Zhang Ruimin, acclaimed for reform-minded entrepreneurship
2015-02-28 14:13

Zhang Ruimin, the CEO & Chairman of Haier Group, has been named “The Most Reform-Minded Entrepreneur of the Year” at the 3rd annual Phoenix Finance Summit in Beijing*. Zhang Ruimin, an influential thought leader who has made outstanding contributions to Chinese business reform, was selected for his exploration of new business models for the internet age.

 

Under the leadership of Zhang Ruimin, Haier Group has successfully anticipated and adapted to the development of the Internet Age, consistently transforming its business model and organisational structures. In 2013/2014, a culture of self-motivated entrepreneurship has been encouraged, with the establishment of non-hierarchical working groups to work on product design projects. Haier recognises the importance of satisfying the personalised needs of end users, and these working groups interact directly with consumers throughout the process, ensuring a win-win for employees and users.

 

The positive impact of this strategic innovation and reform has proved enlightening to Chinese businesses in the consumer electronics and home appliances industries, as well as others. Market results have also demonstrated the fruitfulness of this approach to Haier Group, who recorded global revenue of $29.5bn in 2013, with profits of $1.76bn at a growth of 20% year-on-year. In 2014, Haier Group topped the list of China’s Most Valuable Brands for the 13th consecutive year**, with a brand value of RMB103.8 billion (approx. $16.7bn).

 

Haier’s exploration in business models has drawn international recognition, the subject of research and endorsement from experts and institutions around the globe, including Michael E. Porter (world-renowned professor at Harvard Business School), the Academy of Management (USA), the Iese Business School (Spain) and the International Institute for Management Development (Switzerland).

“There are no successful enterprises, only enterprises of the times. Like a phoenix that consumes itself and rises from its ashes, an enterprise must abandon its old character and reinvent itself.”

Zhang Ruimin, CEO & Chairman,
Haier Group

 

*Event co-sponsored by influential portal website ifeng.com and Phoenix Satellite Television. The summit holds in-depth discussions on hot topics about economic development and issues annual awards. 

**Ranking jointly conducted by R&F Global Rankings Information Group and Beijing Top Brand Asset Appraisal Co. Ltd.

For interview requests or further information, please contact our UK press team:

 

Joseph Chance
+ 33 (0)1 55 02 15 17

j.chance@open2europe.com

Orlaith Finnegan

+ 33 (0)1 55 02 27 97

o.finnegan@open2europe.com

 

About Haier:

The Haier Group is the world’s No. 1 Major Appliances brand with a 10.2% retail volume share in 2014 (Source: Euromonitor International Limited; retail volume sales in units based on 2014 data). With its commitment to quality and innovation, Haier brings the inspired living experience to consumers in over 100 countries worldwide. With global headquarters based in the Chinese city of Qingdao and regional headquarters in both Paris and New York to serve its clients in Europe and America, Haier has 66 trading companies, 143,330 sales outlets and 24 industrial parks with 70,000 employees worldwide. Haier both pursues excellence in innovation through its five R&D centres and ensures its products are adapted to the tastes and needs of its consumers in its various local markets. Haier specialises in technology-driven research, manufacturing and trading a large range of durable products. In Europe, these include: televisions, refrigerators, dishwashers, washing machines, consumer electronics and energy saving home solutions. Haier’s global revenue in 2013 was US$29.5 billion and profit of US$1.76 billion in 2013. Haier Electronics Group Co., Ltd. (HKG: 1169), a subsidiary of the Haier Group, is listed on the Main Board of the Stock Exchange of Hong Kong. Qingdao Haier Co. (SHA: 600690), also a Haier subsidiary, is listed on the Shanghai Stock Exchange.

For more information:  www.haier.com/uk

 

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