Chapter 1159 – Fighting for power
Songjiang Motors has been manufacturing vehicles for the military and naturally produce modified vehicles like bulletproof vehicles. The steel plate is still fine as it is not complicated. The technology is simple, and at most, they can just use thick steel plates to build the vehicles.
But Bing City Machinery Company has never researched glass, which is due to the regulations from the higher-ups. All companies are not allowed to research this technology, and Bing City Machinery Company had to order the bulletproof glass from Bing City Aviation.
Feng Yu had wondered if it is these restrictions that cause China’s technologies to be lagging behind other countries.
The military had given this technology to Bing City Aviation. It helped Bing City Machinery Company get the bulletproof glass they needed. Feng Yu had wanted this technology for a long time. This is a good technology, but it is a waste if Bing City Aviation doesn’t know how to use it!
Installing bulletproof glass on helicopters might be fine, but how many helicopters can Bing City Aviation sell in a year? How can it be compared to cars? Although not many people are willing to buy bulletproof cars, it can be used as a gimmick for marketing. Bing City Machinery Company can also simplify this technology to make better windshields for their higher-end cars.
Feng Yu does not know how Zhang Ruiqiang did it, but he received a call from Zhang Ruiqiang three days later. The higher-ups agreed to allow Bing City Aviation to merge some of their businesses with Bing City Machinery Company to set up Bing City Glass Company. Bing City Machinery Company must also come up with a sum of money in this venture.
Now, Songjiang Motors vehicles can use higher quality glasses, and Feng Yu is satisfied with it.
Bing City Machinery Company went under restructuring and become Bing City Machinery Manufacturing Group. Bing City Machinery Manufacturing Group will be the headquarters, and all the former divisions were converted into subsidiaries. It includes Bing City Automobile Company, Bing City First Motorcycle Company, Bing City Second Motorcycle Company (Three-wheel motorcycle company), Bing City Electric Bike Company, Bing City Agriculture Machinery Company, Bing city Machinery Engineering Research Center, Bing City Spare Parts Company, and Bing City Glass Company.
Without a doubt, Li Mingde is appointed as the Chairman of this holding company. His three deputies remained as his deputies, and there is no change to the directors representing the different shareholders. But there is an additional director from Bing City Aviation, as other than the Glass Company, Bing City Aviation has shares in the research center.
But many people are fighting to be the head of the various subsidiaries’ positions. These are not temporary power, and the heads will have opportunities to move up. The top executives and directors all want to let their men become the heads.
Everyone knows who the future Chairman will be, and everyone had to listen to Feng Yu. Still, Li Mingde had been covering the position of President. He will have to hand over this position to someone. Everyone is capable, and even if there are some differences in their capability, the gap is not wide. If they have many supporters from the ground, they will have a higher chance of being the President.
But when those middle management went to look for Li Mingde and even the City Government for help, Li Dafu is the only one who did not do anything.
When Feng Yu first invited Li Dafu to join him, Li Dafu rejected. But later, he changed his mind and sold all his assets to buy Bing City Machinery Company’s shares. Yes, he had only bought the motorcycle branch factory’s shares. He exchanged his shares for the holding company’s shares later.
Li Dafu built up his wealth alone in the past, and he is very proud. Also, after he joined Bing City Machinery Company, he moved up from the head of the motorcycle branch factory to the Li Mingde’s deputy at the head office. He had worked his way up through his hard work and not through connections with Feng Yu.
Li Mingde is getting old, and he will be retiring in a few years. It is not a good thing for the Chairman to be old. If anything happens to him, the whole company will be affected.
Li Dafu’s target is not only the President of the holding company. He knows Feng Yu has no time and is lazy to manage the company, and the next President will be picked from these directors.
Li Dafu will stand a chance to take over Li Mingde as the Chairman if he becomes the President! The current board of directors is just for show, and the Chairman is the company’s real decision maker!
Furthermore, the various subsidiaries’ heads are not finalized yet, and the directors want to cover these positions.
Li Dafu also wanted this, but he wants to become the President more. He is smart not to look for Li Mingde when everyone else approached the latter. When everyone did not look for Li Mingde, Li Dafu will go and look for him. Doing the opposite of others will stand out and let Li Mingde notice him, and Feng Yu might also notice him.
When everyone tried to find connections, it doesn’t matter if Li Dafu goes or doesn’t go to Li Mingde.
Anyway, Li Mingde is one of the Directors and Deputy President now. Even if his strategy failed, he would not be disappointed. What he is doing now is a gamble.
“Old Li, you mentioned many people had come to you to report their work progress and ask for your advice. Only Li Dafu continued working as normal?” Feng Yu asked.
Li Mingde sighed. “That’s right. They know that after restructuring, managing the company will be easier. Still, the heads of the subsidiaries will have more authority than before. Also, I am getting older, and the directors ask if I have the intention of handing over the President’s position.”
“What do you think? Do you want to get someone to share your workload?” Feng Yu smiled and ask.
Li Mingde should start to groom a successor now. If not, the company will be affected when he retires five to six years later. Although the next Chairman can be picked from the existing Directors, the process must be like the ancient days where the Emperor picks a Crown Prince to make the power transition smooth.
Suppose Li Mingde retires suddenly and the rest of the directors are not willing to work with the new successor. In that case, it will have a devastating impact on the company’s development.
Li Mingde nodded. “I think the company should pick a new President, and I don’t want to cover this position anymore.”
Although giving up this position will means getting a lesser salary, but it means nothing to Li Mingde. He was given shares of the company, and the dividends he received is much more than his salary. Anyway, he is still the Chairman of the company and has full control of the company.
If Li Mingde showed Feng Yu, he refuses to give up his power and made Feng Yu mad, he might have to retire much earlier.
“Who do you prefer to take on the President’s role?”
“Li Dafu. He is very strong in management and can analyze the market well. I am also impressed with his charisma. If he becomes the President, nothing can go wrong when I am around. Even if he leads the company in the future, the company can still do well.”
Li Dafu, as an outsider, can get support from so many people. This shows his charisma is high.
“Alright. Call Li Dafu over tomorrow for a chat.”