Vanke Chairman Wang Shi is at stake, founder how to master the corporate control? -Wang Shi, China vanke-IT information
The morning of June 26, qichezhijia CEO Qin Zhi of internal mail flow, message display, after ping an stake in qichezhijia and became the largest shareholder, qichezhijia the original management will be safe and clean, Qin Zhi CEO and Zhong Yiqi CFO positions have been replaced .
On the same day, spent within the same major shareholders and management of the outbreak of war, vanke's largest shareholder, Po proposed the removal of vanke Chairman Wang Shi. Currently 24%-owned treasures, the second-largest shareholder China Resources Holdings 15%, total holdings of nearly 40% on both sides, once combined, ousted Wang Shi becomes very easy.
Both Wang and Qin Zhi's tragic loss of corporate control
Wang and Qin Zhi embarrassment behind, are two companies gradually lose management control of the company, to become today's situation.
It is reported that qichezhijia 47.4% owned by peace as the single largest shareholder in Australia continues to hold qichezhijia 6.5% equity and stock 2.9% caused by qichezhijia CEO of Qin, Li Xiang, founder qichezhijia stock 2.6%. Because of the proportion of voting rights and shares, so the relative peace, Qin Zhi and Li Xiang's right to vote is worth mentioning, which explains why Qin Zhi ping an is able to easily kicked out.
Wanke, actually this is not the first encounter "barbarians" invasion, but Wang did not long memory. As early as 1994, vanke because equity is separated and the outbreak of the "June struggle"-Junan securities attempted to abdicate vanke, combined with several major shareholders on the management in an attempt to wrest control from Wang.
Then spent 3 days emergency, found Junan securities on "mouse storehouse" feature, will be proof to the securities sector. SFC sent South to Shenzhen later surveys, end Junan securities offered to give up restructuring, Wang Shi-led management to get rid of the crisis.
However, Wang Dan does not learn from it, thereby changing the ownership structure of shareholding spread too thin. Him even a little complacency, said in his autobiography, shares of vanke dispersion is rare in China's securities market.
Today, vanke, Wang and Yu Liang, President of chance is very slim, unless the second-largest shareholder China resources again on their side. But Wang only this morning in the circle of friends accuse China resources "fig leaf torn off" China resources also support the possible?
Where CEO Zhuang Chenchao has embarrassed out
In the Internet industry, management of the enterprise of shareholding being diluted to single digits is not a small number. Once the "barbarian" entry, it is likely to happen next qichezhijia or vanke's story, the company management will face a danger of being kicked.
In fact, something similar also happened to go. According to April 2015 according to documents submitted to the SEC, where top management team as a whole share to 14.5%, Baidu accounted for 51.4% of the total share capital, and Baidu has about 68.7% of the right to vote.
In early January this year, where formal marriage with ctrip, where then CEO Zhuang Chenchao announced. It is reported that the marriage actually opposed by Zhuang Chenchao, but union leader Baidu has more than 50% votes, Zhuang Chenchao opinions have become irrelevant eventually would be forced to accept and choose Exit.
Liu and Chen yizhou on how to control the company
However, the Internet industry is also no lack of management hold examples of company control in their own hands, among them, Jingdong Group CEO Liu, all the company CEO Chen yizhou is the managers do a better job in this regard.
According to company 20F filing submitted to the SEC in May this year showed, the company CEO stock 29.5%, but has the right to vote was as high as 48.4%; everyone, including the Chen 42.4%-owned company directors and managers, have the right to vote is as high as 52%, which means the management control over the company.
By contrast, everyone's all 8.6% owned by investors DCM, but only with 2.3% voting rights in the company.
Liu also achieved perfection in this respect, it is noted that Liu Jing dong holding only 15.4%, but its voting rights at 77%, Jing dong has absolute control. How did he do that?
Submitted to the SEC under Jingdong 2014 (United States Securities) prospectus showed that IPO Liu control the two companies owns 20.5% shares of East Beijing, all for class b shares, according to AB stock voting rights 1:20 rules, Liu will have East 83.75% voting rights. In other words, even after several rounds of financing until after the IPO, Liu is still absolutely in control of East Beijing, it East in Beijing say nobody is going to move.
According to Beijing earlier this year, according to documents submitted to the SEC East, as of February 29, 2016, Group CEO Liu Jingdong by Max Smart Limited directly held 449,444,989 shares, 16.2% shares. Among them, Max Smart Limited holds the right to vote is 71.5%. Fortune Rising Holdings Limited owns 2%, about 9.3% of the voting rights, all this part of the voting rights by Liu. This means that Liu has a total of 80.9% voting rights.
Liu for control of the company with the sensitivity of a tiger territory. According to reports of the Chinese entrepreneurs have in 2011, retail giant Wal-Mart, once negotiations with the East for six months, valuations have all been settled. When approaching to sign an agreement, Liu found that Wal-Mart, for the holding of Beijing East until buying out East. He said he knew nothing about capital is also, but seeing such a provision, he found this to be an "essentially talking about is not something".
It is reported that Jingdong to 9.5 billion yuan worth of shares last week from Wal-Mart to buy the 1th, shop, and become a strategic shareholder of Wal-Mart, Wal-Mart shares after completion of the transaction is 4.97%. Meanwhile, Liu shareholding diluted from 16.2% to 15.4%, and the right to vote, from 80.9% to 77%, still has an absolute right to speak.
Foreign Corporation in the internal or external treatment of investors, Liu with strong out of the name. Jingdong earned more than $ 2 billion of investment capital today founder Xu Xin also said publicly that known Liu for many years, but he is very strong, even if Amazon founder Bezos stronger than him. However, Liu eventually proved that he was right.
万科董事长王石危在旦夕，创始人该如何掌握公司控制权？ - 王石,万科 - IT资讯
6月26日上午，汽车之家CEO秦致给公司内部员工的邮件流出，邮件显示，在平安入股汽车之家并成为第一大股东之后，汽车之家原有管理层将被平安清洗，秦致的CEO职位和钟奕祺的CFO职位已被替换。
就在同一天，万科内部同样爆发大股东与管理层之家的战争，万科最大股东宝能系提议罢免万科董事长王石。目前宝能持股24%，第二大股东华润持股15%，双方合计持股近40%，一旦联合起来，罢免王石将变得很容易。
王石和秦致的悲剧皆因失去公司控制权
秦致和王石尴尬的背后，是两家公司管理层对公司控制权的逐渐丧失，才酿成了如今的局面。
据悉，平安持有汽车之家47.4%股权为单一最大股东，澳电继续持有汽车之家6.5%股权，同时汽车之家CEO秦致持股为2.9%，汽车之家创始人李想持股为2.6%。由于投票权与持股比例相当，因此相对平安而言，秦致和李想的投票权实在不值一提，这也解释了为什么平安能够轻易将秦致踢出局。
对万科而言，实际上这已经不是第一遭遇“野蛮人”入侵，但王石并没有长记性。早在1994年，万科就由于股权太分散而爆发了“君万之争”——君安证券企图联合几大股东对万科管理层逼宫，企图从王石手中夺取控制权。
随后，万科紧急停牌3天，查到了君安证券开“老鼠仓”的形迹，将其举证给证监部门。证监会随后派专人南下深圳调查，最后君安证券主动放弃改组，王石领导的管理层这才摆脱危机。
然而，王石并未从中吸取教训，从而改变持股过于分散的股权结构。他甚至还有些自满的在个人自传中说，万科的股权分散程度在中国证券市场中都是少见的。
如今，王石和万科总裁郁亮的机会已经十分渺茫，除非第二大股东华润再次站在他们这边。但王石今天上午才在微信朋友圈指责华润“遮羞布全撕去了”，华润还有支持他的可能吗？
去哪儿CEO庄辰超也曾尴尬出局
在互联网行业，管理层持股被稀释至个位数的企业并不再少数。一旦“野蛮人”进入，就很可能发生下一个汽车之家或万科的故事，公司管理层将面临被踢出局的危险。
实际上，类似的情况还在去哪儿身上发生。根据去哪儿2015年4月提交给SEC的文件显示，整个去哪儿高管团队持股比例为14.5%，百度占总股本的51.4%，且百度拥有约68.7%的投票权。
今年1月初，去哪儿与携程正式联姻，随后去哪儿CEO庄辰超宣布离职。据悉，此次联姻实际上此前遭到了庄辰超的反对，不过由于联姻主导者百度拥有超过50%的投票权，庄辰超的意见已经变得无关紧要，最终只能被迫接受并选择出局。
刘强东和陈一舟如何掌控公司
不过，互联网行业也并不缺乏管理层牢牢将公司掌控在自己手中的例子，这其中，京东集团CEO刘强东、人人公司CEO陈一舟是这方面做得较好的管理者。
根据人人公司今年5月向SEC递交的20F文件显示，人人公司CEO持股为29.5%，但拥有的投票权却高达48.4%；包括陈一舟在内的人人公司所有董事和管理人员持股42.4%，拥有投票权则高达52%，这意味着管理层对公司绝对控制。
与之相比，人人的投资方DCM虽然持有人人8.6%的股权，但仅仅只拥有公司2.3%的投票权。
而刘强东在这方面更是做到了极致，据悉，刘强东虽然在京东持股仅为15.4%，但其投票权却达到了77.0%，对京东拥有绝对控制权。这一切他是怎么做到的？
根据京东2014年提交给SEC（美国证监会）的招股说明书显示，IPO之后刘强东控制的两家公司一共持有京东20.5%的股份，全部为B类股，依据AB类股投票权1比20的规则，刘强东将拥有京东83.75%的投票权。也就是说，即使在经过数轮融资直至IPO之后，刘强东仍然绝对掌控着京东，其在京东的话语权无人可以撼动。
而根据京东今年初提交给SEC的文件显示，截止到2016年2月29日，京东集团CEO刘强东通过Max Smart Limited直接持有449,444,989股，占股16.2%。其中，Max Smart Limited持有投票权为71.5%。Fortune Rising Holdings Limited持股2%，有约9.3%的投票权，这部分投票权也归刘强东所有。这意味着，刘强东共拥有80.9%的投票权。
刘强东对公司的控制权有着猛虎对领地般的敏感。根据《中国企业家》曾经的报道，2011年，零售巨头沃尔玛曾经与京东有长达半年的谈判，估值都已全部谈妥。临近签协议的时候，刘强东发现沃尔玛要求将来控股京东，直到全盘收购京东。他说自己对资本也是一窍不通，但看到这样的条款，他发现这是个“本质上谈不成的东西”。
据悉，京东上周以价值95亿元的股票从沃尔玛手中收购了1号店，并引入沃尔玛成为战略股东，交易完成后沃尔玛持股为4.97%。与此同时，刘强东持股则从16.2%被稀释至15.4%，而投票权则由80.9%变为77.0%，依然拥有绝对话语权。
无论在内部对外公司下属还是外部对待投资人，刘强东都以强势出了名。即使投资京东一举赚了超过20亿美元的今日资本创始人徐新也公开表示，自己认识刘强东多年，但发现他从来都是很强势，即使亚马逊创始人贝佐斯的强势也不如他。不过，刘强东最终用行动证明了自己是正确的。