BEIJING, February 14 (TMTPOST) Lin Lan is stepping down as Chairman of Chinese home appliance manufacturer Hisense Group and President Jia Shaoqian repalce LIn as new chairman, according to the company's announcement on Tuesday.
With Jia being the president, Hisense saw its revenue rise 45 percent and profit jump 77 percent during the past four years.
Lin succeeded Zhou Houjian as chairman of Hisense Group in March last year. Since then, Jia has cooperated closely with Lin, bringing satisfactory performance. The group's operating revenue reached 183.5 billion yuan ($26.9 billion) in 2022 while it profits hit 12.2 billion yuan ($1.79 billion), a year-on-year increase of 20.4%. Its overseas income in 2022 was 75.74 billion yuan ($11.1 billion).
After Lin became the chairman of the group, he helped the company overcome setbacks amid the coronavirus and traveled around the world to actively promote Hisense's internationalization. As a result, Hisense was an sponsor of the Qatar World Cup. Internally, he has been pushing for change, from strategic shifts to process reforms. He is setting an example by resigning to offer room for the younger to take the lead
Yu Zhitao, who was also born in the 1970s like Jia, served as Executive Vice President. Prior to that, he focused on technology and was in charge of Hisense'sdisplay industry which the company started with. In 2022, Hisense TV ranked the second in the world in terms of global shipments.
After the resolution was passed by the board of directors, Lin expressed mixed feelings. Zhou handed him the leadership one year ago when important issues were pending in Hisense's international business. The company needed Lin to overcome difficulties and finish the job. Today, he is pleased to see that President Jia is fully capable of lead the company for the long term and has won the trust of the Board of directors. As his historic mission is completed, it is time for him to resign, according to Lin.
It is reported that Lin will continue to play an important role in the international market as a senior adviser after his retirement.
