Lei feng’s network (search for “Lei feng’s network” public attention) by writer Lee, founder of car and home.
Qichezhijia (ATHM) information for the new CEO has published, in accordance with the disclosure that I can also say, saving us and the media are just guessing. I, as founder and Director (I left qichezhijia management team June 30, 2015, and continued to serve as directors of a listed company), witnessed the whole process, I describe only the truth in my eyes.
On behalf of my own, and do not represent qichezhijia and any interested party. Three major sections, namely: shares bid, change management, and my state of mind.
“Shares bid”
Large sense, Qin Zhi is not the nature of the minority shareholders or the management team limit shareholder enter, but failed bid for Australian shares, and China vanke was different. Telstra has the idea of selling a majority stake last year, stake a few target buyer, safe is the one, and management teams have contacted potential buyers earlier. Last year’s prices are on the high side, Qin Zhi’s intention to represent the management team did not buy because it is difficult to take out so much money. With the unit as a whole weaker in Australia sells unit prices are now falling, plus have a return channel of a shares, and qichezhijia is a quality asset, share price is not expensive, planning the money also becomes possible.
So to get some big name capital of Qin, supported Qin Zhi, involved in the purchase and privatization bid. These big capital is famous, also has information on disclosure, will not take this lightly on the open market.
However, at that point in time, a bit late, o is a complete fiscal year until June 30, so Australia have an incentive to complete the deal before June 30, and delivery, from Australia’s point of view, peace will be a more stable time choice, although not a bid better choices.
On June 29, 2008-Australian strategic investments qichezhijia a truth, this point is very important. Among all kinds of matters, also are bidding. However, the bid failed.
“Change management”
Qin decision on bid when I asked a key question, if the bid fails what do you think is the worst outcome, he said: I quit. I think Qin Zhi conduct without any problems, understand their choice may also occur very early results of two, success or failure, as well as price.
Replace o on the Provisional Board of Directors, everything was fine, o replace five Board seats with a Christmas residency directors, including replacement of the CEO and CFO (CEO and CFO needs approval of the Board, replacing the remaining executives CEO). Regardless of is as Director, and shareholders, and also is managers, and founder (here additional added about, Qin Zhi is real of qichezhijia three a founder one of, Li Xiang, and Fan Zheng, and Qin to, because qichezhijia of enterprise culture is Qin to to has yihou established of, this quite important, this zhiqian qichezhijia only basic of products and user operation, also has special outrageous of spirit), Qin Zhi in Board Shang are performance have very career, also for handover work and new CEO Lu min has very in-depth of communication.
As regards mean kill them or resign, this is not important.
I also understand that the choice of peace, because historically, peace after any of the company’s largest shareholder, almost the first thing all started from management changes. This is an option, there is no right or wrong. And qichezhijia merge similar bus 168, 168 teams select only qichezhijia culture, either stay or leave, they are very cruel.
Australia is more of a strategic investor to qichezhijia, qichezhijia team does not exist in any of the Australian listed company employees and former employees. This is also no right or wrong, is a style choice. Flawless
“My mind”
About my state of mind, please don’t call me. My entrepreneurial mind analogies, and falling in love, a career, go all out to do it, just like love a girlfriend. When I found out that my dedication and love when there is no result, no way to achieve what I want, when marriage and family, I would choose to give up, go find a lover and I can start a family.
I wanted to leave twice before qichezhijia, is to retain by Qin. 2011, I just want to go out business, Qin Zhi said what we want to do listed qichezhijia, 2012 will be on the market, but the stock market is bad, we gave up and listed on the New York Stock Exchange in late 2013. Listed, I still want to go, Qin Zhi said how do we want to put the company into billions of dollars, it was $ 4 billion or 5 billion, I said all right, and keep working.
O power after qichezhijia, Australia has replaced several CEO, joke telling, iron qichezhijia, Australian CEO of water. The past eight years, we get along very well with o.
When the interests of small, nothing to say. Interests to a certain extent, beyond humanity. Before the listing, really is our management team has to say, performance is also crazy growth. After the listing, billions of dollars in market value out there, in front of huge benefits, change of is decision efficiency decreased (effect is not a matter of tens of millions of dollars on the Australian scale, affecting billions of dollars, for Australia is not decimal), which is why the management team saw an opportunity to go through the bid to control the ball because we do.
Values are from my childhood: take control of their own initiative, take control of their own destiny. I think we really was gradually took the initiative, at the same time I found a new business I love: cars and smart car. So, on June 30, 2015, I move on.
Therefore, the qichezhijia happen I’m sorry, but it’s not painful, because I have found true love. Qin Zhi and the management team must be very painful because he was abandoned by true love.
Come out and see, not necessarily a bad thing.
A lot of traffic accident in a car, if insurance is really big, which parts need to be replaced, use original parts still under factory parts, labor money, repaired accident car (I describe the relationship between management and shareholders, rather than qichezhijia). If can simply walk scrapped claims were better off buying a new car to start again.
Several key executives have a very good experience, revenue from zero to more than 3 billion and profit of more than 1 billion, the highest market value of US $ 6 billion. Find a higher paying job would never worry, want to start more is due for another year. Flawless i6 case
Qichezhijia for all of my colleagues, such things happen, and ultimately can only blame me. Qichezhijia is the bubble net up, inherited the bubble net ownership structure, established bubble net equity structure, when I was 18 years old, just graduated high school, and just want to get things done, even so that enterprises can survive, beaten to death, I did not expect to be able to do it billions of dollars. Over the last 16 years, I tried to make every choice can be made, limited capacity in the end, especially the limited financial resources.
For the team, I can say only one thing: everyone should make the best of that choice.
Grateful! Especially thank Qin Zhi, any misunderstanding of Qin Zhi, I think that is unfair.
Lei Feng network Note: this article by Lee sends in the ball, please contact licensing and label source and author, content must not be modified.