Meituan is China’s largest food delivery app. (Photo: QZ) A big storm hit after Meituan founder and CEO Wang Xing posted a poem from the Tang Dynasty on social media last week. The article on the Fanfou website has since been deleted, but Meituan confirmed it contains the poem “The Book Burning Pit” by author Zhang Jie written more than 1,100 years ago to satirize Qin Shi Huang. According to historical records, Qin Shi Huang quelled dissent in the country by digging huge holes, burning books not approved by the government, and burying scholars to prevent people from condemning him. Some comments on social media suggested that Wang may have posted the poem to implicitly criticize the Chinese government, which is holding back the country’s largest technology firms. Others compared the post to Alibaba founder Jack Ma’s speech last year, when he smacked China’s central banks and financial regulators for using outdated methods. Jack Ma’s speech seems to have angered the authorities. Ant Group’s historic IPO was also suspended at the last minute. Meituan and many other “big players” such as Alibaba and Tencent have been fined or investigated and monitored for several months now for violating monopoly or affecting consumer rights. The poem, which is more than 1,100 years old, further reveals the predicament that awaits companies like Meituan. Meituan stock fell 13% from May 6 to May 11, wiping out nearly $30 billion in market capitalization. Currently, the stock recovered slightly, gaining 2.5% at the close of the session on May 12. CEO Wang later posted an explanation, saying that the poem was about Meituan’s competitors. “The Qin Dynasty was afraid of scholars, but Liu Bang and Xiang Yu – the people who overthrew the Qin Dynasty – were not educated. That reminds me that the most dangerous enemies are not the people expected. Alibaba focused on JD.com and then Pinduoduo surpassed in terms of users. Similarly, Ele.me is seen as Meituan’s biggest competitor, but what really shocks the entire industry might be a certain business, business model that hasn’t caught our eye yet.” In April, Meituan and dozens of other companies were warned when Alibaba received a record $2.8 billion fine. Chinese authorities said Alibaba was fined for behaving like a monopolist. They also tell businesses that if they don’t address monopolistic behavior, they will be similarly punished. Later, China’s State Market Regulation Authority opened an antitrust investigation against Meituan for “exclusive trading arrangements”. The company was summoned by many agencies, including the Shanghai authorities, about the interests of customers. According to analysts Fitch Ratings, regulatory risks with China’s internet sector tend to escalate. The agency has not ruled out any fines with other companies after what happened to Alibaba. One netizen commented: “The poem is very suggestive. Wang Xing posted it at a critical period of the Big Tech crackdown. This is clearly inappropriate action. Wang may mean his rivals, but investors don’t think so. This is a very sensitive moment.” Du Lam (According to CNN)

At its 5,000-worker factory located in Shiga prefecture, Pansonic manufactures high-tech air conditioners with new features. It produces microscopic water droplets that fight against corona viruses and other viruses, bacteria and pollutants in the air. The technology that produces hydroxyl radicals, or atmospheric cleaners, is being used in cars, elevators, buses, and trains in Japan. Panasonic’s Ziaino air purifier sales tripled to more than $ 100 million during the Covid-19 period. The company sets a target of nearly $ 500 million in sales over the next five years. Ziaino has a high ability to disinfect and deodorize by creating hypochlorous acid. In an interview with Nikkei Asia, Mr. Shinada said that the company wants to leave the image of a disgraced television maker behind to focus on health-related products. The increase in sales is a sign of a happy revival for Panasonic’s 103-year-old home division. He does not hide his ambitions to become No. 1 globally or regionally in some areas. “We may not be as big as LG, but we can compete on profit margins. We want the rest of the world to know that Panasonic has been reborn, ”he told Nikkei Asia. This is the message Panasonic hopes investors will listen to. From April 1, Mr. Yuki Kusumi will replace Kazuhiro Tsuga as the company’s CEO after 9 years in office. During his tenure, Mr. Tsuga had to “clean up” the aftermath of the costly 2009 acquisition of Sanyo Electric, withdrew from the semiconductor industry, LCD panels, solar panels, and turned to components car, aviation. Panasonic wants to begin a new journey under the new CEO after he led a restructuring of the company’s auto division. Optimism is gradually spreading. Shares have risen more than 35% since the announcement of a leadership change in November 2020. On February 2, Panasonic raised its annual profit forecast for fiscal year 2020. The electric vehicle battery joint venture with Tesla is expected to be profitable for the first time since it opened in 2017. At the annual shareholder meeting in June 2020, Mr. Kusumi pointed out that many parts of Panasonic have low revenue. From the founder’s point of view, it means that Panasonic is not contributing as much to the community as it used to be. Konosuke Matsushita was the founder of Panasonic in 1918 without formal training. Mr. Matsushita once said that profit is the reward of giving to society, the mission of a manufacturer is to make products “cheap and plentiful like tap water”. Panasonic is the resurgent symbol of Japan in the post-war era. They manufacture and export household products like many other country companies. Although initially considered a second-class product, Panasonic has gradually gained international recognition for its quality. In the 1990s, Panasonic was a rival of Sony and Phillips in the global television market. In the mobile phone market, Panasonic also balances Motorola, Nokia and Ericsson. During the 12 months ending March 1991, they were the second most profitable company in Japan, behind only Toyota Motor and Asia’s leading consumer brand. But this giant did not adapt to the times and turned from a hero to the representative of Japan’s troubled industry. Over time, Panasonic lost its lead to Korean and Chinese rivals such as Samsung, LG, and TCL. The past two decades have been a battle that has turned the firm’s destiny. During most of that period, Panasonic’s operating profit margin remained below 5%. As of the end of December 2020, the rate was 4%, lower than 11% for Sony, 6.3% for Hitachi, and 5.1% for LG, according to data from Quick FactSet. Market value is only half of its 2006 peak and a quarter of Sony. Panasonic did not have a product that had great success on the world stage. While some are quite powerful, such as DVDs and video players with 17% market share, they are too small to support businesses that feed 250,000 people. In 2020, in Japan, Panasonic accounts for nearly 30% market share of household appliances, but globally only 2.5%, down from 2.8% in 2015. The company ranks 7, after Midea, Phillips, Haier, according to research firm Euromonitor. Even the market share of air conditioners, a strong product of Panasonic, in the past 5 years, only 4.1%, ranked 5th in the world, still according to Euromonitor data. Atul Goyal, director of research management at investment bank Jefferies, rated Panasonic “too diversified” and “too many products.” “I wish they focused first and reduced to a smaller scale, winning in 3 or 4 fields and developing them without looking anywhere else.” Other experts argue that the problem is more with marketing than with technology. In the global marketplace, marketing is important. Others commented that Panasonic in particular and Japanese electronics in general paid too much attention to technology without paying attention to convenience, ease of use, electronic features, and cost efficiency of the product. Panasonic is not alone in the transformation. Hitachi abandoned home appliances to focus on transportation and infrastructure. Sony re-formed an entertainment, image sensor and game consortium. Sharp sells itself to Taiwan’s Foxconn. New media reported that Panasonic is looking to acquire Blue Yonder, an AI company that monitors real-time supply chains and predicts demand, allowing for the optimization of inventory and logistics operations. Acquisition ambitions show that business services still play an important role in Panasonic’s bottom line, but once again questioned whether they are “overwhelmed”. After the news was released in March, the company’s shares fell 6%. Even Panasonic’s strategic partnership with Tesla hasn’t been smooth. Back in 2010, when Panasonic decided to invest $ 30 million in a startup, the electric car market was small and uncertain. In 2014, the company agreed to participate in the development of Tesla’s electric vehicle “big factory”. However, Panasonic hesitated at the idea of ​​expanding in 2018. It was not until August 2020 that they decided to step forward. The hesitation angered investors as Tesla turned the offer to other suppliers such as CATL in China, LG Chem in Korea and began to develop batteries on its own. According to analyst Goyal, Panasonic cannot even focus on a “good food” business. They should have invested more heavily, took risks, and actively expanded. In the context of a change in leadership, Panasonic adjusted and put the household division at the center. The department head believes they are regaining their “fighting spirit”. He admits that Panasonic needs to focus on areas of strength. “Working for people is this company’s original mission. That is what we want to focus on. Mr. Shinada emphasized that Panasonic must cut costs to make their prices more affordable to many foreign users. The decision to move the global home appliances division to China is an example. In China, Panasonic QR code-operated smart lockers are available at convenience stores and cafes in major cities, including the HeyTea tea chain, to serve customers without need. contact. These cabinets were installed at 98 HeyTea stores last year and are expected to grow to more than 500 this year, according to Tetsuro Homma, CEO of Panasonic China and Northeast Asia. Panasonic accounts for 30% of the Chinese frozen food display market with sales of around $ 500 million. Mr. Homma believes that the scale can be tripled, equivalent to the US market, which Panasonic is serving through the Hussmann branch. However, Panasonic’s business in China has never been easy. Its sales still stand at $ 7 billion, equivalent to 2% market share in the home appliance market, even though it was the first Japanese company to enter the country in 1987. According to Mr. Shinada, Southeast Asia is where Panasonic has a larger market share and a more solid foothold. He pledged to spend a lot of effort revitalizing the home appliances business in Southeast Asia like China. Panasonic still has to improve many things. Some analysts say that the recent rally in stock prices was purely due to the overall economy going up, not on the efforts of the company itself. CEO Tsuga admitted that when he revealed his retirement plan in November 2020. “It is very difficult to achieve growth with profits.” He places his hopes on Kusumi’s successor because “he can make harsh decisions even when others are reluctant to accept it”.

Smart things (public account: zhidxcom)

Compilation | Qu Wangmiao

Edit | Jiang Xinbai

Wisdom News reported on April 14 that the 60-year-old Apple CEO Tim Cook recently stated that he is likely to leave the company in the next 10 years. After that, the question of who will replace him has attracted the attention of foreign media.

Foreign media AppleInsider conducted the latest speculation and analysis on this matter. The more likely candidates include Craig, COO Williams, Senior Vice President of Software Engineering, and Senior Vice President Joswick, who are commonly seen at Apple conferences. .

Indeed, in 10 years, Cook will be 70 years old. If he is still the CEO, then it will be the 20th year of his tenure. Apple’s co-founder Steve Jobs has only been in charge of Shuai Yin for 14 years, so Cook’s answer is reasonable.

▲Apple CEO Tim Cook

Since taking over as Apple’s CEO in 2011, Cook has led Apple through its most successful period in history. Although his style is not as ostentatious as Jobs, nor as witty as Jobs, Cook’s approach to business and life has become part of Apple, and this approach will continue until the end of his term.

It is unclear who will succeed Cook next, but there are some candidates in the company’s management team that can be considered.

1. The best candidate: deep qualifications, distinctive personality, and he is in the prime of life

   

   ▲Craig Federighi, Senior Vice President of Apple Software Engineering

   Craig Federighi, 51-year-old Apple’s senior vice president of software engineering, is known for his warm, funny, and humble speeches. He used to work with Steve Jobs at NeXT, and his current focus is on Apple’s software. He has a deep experience at Apple, and this is especially important in an iconic, personality-oriented company.

   

   ▲Greg “Joz” Joswiak, senior vice president of Apple

   The same goes for Greg “Joz” Joswiak, senior vice president of Apple’s global marketing. He joined Apple in 1986 and is very popular both inside and outside the company, and he is a well-known figure.

   The 56-year-old Joswick’s current job is marketing, but he is also quite skilled in technology. He worked on the Macintosh team and helped develop the original iPod and iPhone. Like Federici, he is also an important figure in Apple’s theme conferences and is fully qualified to take over as CEO.

   

   ▲Apple Chief Operating Officer Jeff Williams (Jeff Williams)

   The third place is Jeff Williams (Jeff Williams). Before taking over as CEO, Cook served as Apple’s chief operating officer, and Williams currently holds that position.

   Williams, 58, joined Apple in 1998 and played a key role in the release of the first iPhone. He also led the engineering development of the Apple Watch, which is far ahead of the market competition, making Apple the world’s largest watch manufacturer.

   Like Federige and Joswick, Williams is also a frequent visitor to Apple’s theme conferences. In September last year, he was selected as the launch guest of Apple Watch Series 6.

   At Apple, personality and demeanor are important, and all three candidates meet the requirements. Any one of them succeeding Cook will reassure investors, employees and company observers.

   If Cook leaves in 10 years, Federigi will be 61 years old, Joswick will be 66 years old, and Williams will be 68 years old.

2. Legends: Standing in a high position and attracting attention

   

   ▲Eddy Cue, senior vice president of Apple

   Since Jobs took over at Apple, Eddy Cue and Phil Schiller have been members of Apple’s senior leadership and have held high-profile positions in the company. It is safe to choose one of them to take over as CEO.

   Kuy is Apple’s senior vice president of Internet software and services, responsible for all the company’s content businesses, including Apple Music, Apple Pay and iCloud. He has been working in the company since 1989.

   

   ▲Phil Schiller, former senior vice president of global marketing at Apple

   And Phil Schiller (Phil Schiller) is Apple’s former senior vice president of global marketing, he is now an honorary academician of Apple, but will continue to manage the App Store and Apple’s activities.

   Schiller and Cook are similar in age, both 60 years old, while Kuy is 56 years old. Considering Schiller’s age and his status at Apple, Kuy seems to be the more likely candidate of the two, but still ranks behind Federigi, Joswick and Williams.

3. Other executives: the world is uncertain, the potential is dark horse

   Although these names may not be conspicuous in 2021, many things may change in the 5 to 10 years before Cook leaves.

   

   ▲Apple Vice President Lisa Jackson (Lisa Jackson)

   Lisa Jackson (Lisa Jackson) is Apple’s vice president of environmental, policy, and social initiatives. Under Cook’s leadership, this role has become very important. Therefore, she has recently attended Apple’s keynote speeches and product launches. Before joining Apple in 2013, she served as the Director of the U.S. Environmental Protection Agency.

   Jackson is 59 years old, and her short tenure at Apple seems to make her an outsider. But she is also the most compelling woman in Apple’s leadership, and given that Apple will continue to promote the diversity of the company’s employees, coupled with her leadership experience, she has become a good candidate for the CEO position.

   

   ▲Johnny Srouji, senior vice president of Apple (Johny Srouji)

   Apple’s senior vice president of hardware technology Johny Srouji (Johny Srouji) is responsible for the Apple Silicon project, which will lead Apple’s development direction in the next 10 years. This alone is enough to make him an excellent candidate to succeed Cook.

   Sluggy is 57 years old and has been working at Apple since 2008, a bit longer than Jackson, but compared to other candidates, this term is not long.

   

   ▲John Ternus, senior vice president of Apple hardware engineering

   Apple’s senior vice president of hardware engineering, John Ternus, is perhaps the most powerful candidate among the three. He has been in this position since 2001 and has since been responsible for overseeing hardware engineering work, including every generation and every model of iPad, the latest iPhone and AirPods.

   Apple’s official resume also stated that he was “a key leader in the transition from Mac to Apple’s silicon.” We don’t know the exact age of Tenus, but his LinkedIn profile shows that he graduated from the University of Pennsylvania in 1997. According to calculations, Tenus may be around 40 years old.

4. Not currently in the leadership team: out of sight for the time being, but the role is important

   

   ▲Dan Riccio

   Earlier this year, Apple announced that Dan Riccio would transition to a new secret project within the company. Subsequently, Rizio’s name and resume were deleted from Apple’s leadership page, but it is believed that he still plays an important role.

   Riccio has been working at Apple since 1998 and was promoted to senior vice president with Federigi in 2012. He later stepped down as senior vice president of hardware engineering and was taken over by Tenus.

   The 55-year-old Riccio will become a potential candidate to succeed Cook, but it is not clear whether Apple will remove him from his latest project, which puts him low on the list of potential candidates.

5. External recruitment: former employees, outsiders

   This seems to be an unlikely approach, but it is not entirely impossible. Especially for a listed company, it may face pressure from investors to request high-profile recruitment. In other words, if Apple is looking for an outsider to serve as the next CEO, it may bring some familiar former employees.

   

   ▲The former chief designer of Apple Jony Ive (Jony Ive)

   Former chief designer Jony Ive (Jony Ive) topped the list. Now 54-year-old Ive has retired, but whether he will be interested in this role is still unknown.

   

   ▲Ahrendts (first from right) and Cook

   Another candidate worth considering is Angela Ahrendts, a former senior vice president of retail at Apple. She has experience as a CEO and led Burberry from 2006 to 2014. But she and Cook were about the same age, at the age of 60.

   The last option is a person who has no history at Apple, but this possibility is very slim. Apple’s unique culture and legendary history show that no matter who takes over as Apple’s next CEO, he or she is the person currently working at Apple.

   Source: AppleInsider