On the morning of November 11th, he fainted during a basketball game. The Philippine-China executive Chen Yongzai, the son of Philippine Airlines President and CEO Official Chen Junwang died young, at the age of 53. The Filipino-Chinese business community lost another business giant.
Who will make up for the vacancy left by his son Chen Junwang's death and continue to reorganize the huge business empire, attracting attention from the outside world.
I am happy to be called Brother Chen Junwang’s student
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The late President and CEO of PAL Holding Company Chen Junwang
On November 9, Chen Junwang, President and CEO of PAL Holding Company, was in Manilaman Dayuyang fainted while playing basketball and died in the hospital. He died in a Manila hospital on the morning of the 11th of that month at the age of 53.
Chen Junwang (Lucio “Bong” Tan Jr.) was born in 1966, and his ancestral home is Jinjiang, Quanzhou. When he died, he had not taken over from his father Chen Yongzai for a month; in addition, he was also in charge. The family's tobacco, wine, coffee and animal husbandry industries.
In early October of this year, Philippine Airlines reorganized its board of directors. Chen Junwang’s sister, Karlu Tan Say, was appointed as a director of Philippine Airlines; on October 28, Chen Junwang was appointed as the president and chief operating officer of Philippine Airlines. In the eyes of the outside world, this is Chen Yongzai, a Philippine-Chinese chief executive who is accelerating the process of the second-generation succession of the family, and Chen Junwang is also expected to become the second-generation head of the family business in the future.
Chen Junwang passed away, leaving behind his wife Julie (Julie), two sons Lucio Tan III and Kyle Tan (KyleTan).
On the list of the richest people in the Philippines released by Forbes Magazine not long ago, Chen Yongzai is the sixth richest person in the Philippines with a net worth of US$3.6 billion.
Chen Yina, the new CEO of Eaton Real Estate and a director of Philippine Airlines
Son unfortunately left, the huge family business still needs to continue to run, who Come to replace the vacancy left by Chen Junwang?
Philippine-Chinese business executive Chen Yongzai is a leader in the Philippine business community. He has experienced too many ups and downs. Therefore, he is also actively re-adjusting the second-generation relay plan and making a layout.
According to the "Philippine Star" report, recently Eton Properties Philippines, a subsidiary of the Chen Yongzai family, announced that it has appointed Chen Junwang's sister, Karlu Tan Say, as the new chief operating officer.
According to relevant information, Chen Yina will be in charge of the real estate department of LucioTan Group, and she will also serve as director and head of human resources. At a board meeting held by Eaton Properties a few days ago, Chen Yina asked all my colleagues to support her brother Chen Junwang’s vision for Eaton Properties.
At the board meeting, Chen Yina said: "As the new chief operating officer, I urge everyone to work hard and efficiently and maintain a sense of teamwork." The new chief operating officer of Eaton Real Estate Chen Yina also said: " I hope that each of us will be open and honest and actively meet various challenges, because the market we face is ever-changing. I believe that we rely on everyone’s joint efforts.Strength, we can realize the vision of my brother before his death. ”
At the beginning of her tenure, Chen Yina offered the "three arrows", namely Eaton Real Estate’s three priority development measures: (1) Increasing rental income; (2) Increasing Eaton and Kui in Xianta Luosha City The land value of the Eaton Center in Song City; (3) Realizing the land reserve assets.
陈怡娜
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This year In May, the board of directors of Philippine Airlines, the flagship company of Chen Yongzai's family, was reorganized. In addition to joining the 15-member board of Philippine Airlines, Chen Yina also served as the executive vice president, finance and chief administrative officer of Philippine Airlines in charge of financial affairs.
In a subsequent statement, Chen Yina stated that she would continue to focus on guiding the company to achieve profitability. At the time, many observers believed that this 78-year-old airline is expected to carry out vital and major reforms in the next few months. Unfortunately, the unexpected death of Chen Yina’s elder brother and Philippine Airlines President and CEO Chen Junwang has affected this change that the outside world is quite expecting.
Of course, in order to realize the father’s contribution to the flagship The airline's vision, Chen Yina, who entered the leadership, once said: "Before making the right plan, we must first obtain all the information. "In addition, she also expressed the need for as many people as possible. "We will definitely let all the elites of Philippine Airlines make the best use of their talents. "
Last month, my brother Chen Junwang died unexpectedly. Chen Yina said: "He passed away at the pinnacle of his career, trying to unite our family. His way may not always be perfect, but he is always kind. "Chen Yina also said: "Chen Junwang dreams of combining all our family members into a united and peaceful whole. "
In her eulogy to her brother, Chen Yina said emotionally that she would use her brother as a teacher: "He told me that there are 3 types of basketball shoes: low-top, middle-top and high-top. He wants to imprint this in my mind with cognition, and then test me in front of my other brothers and sisters to see if I remember them all. When my answer was correct, they all laughed at me, saying that I was like his student, yes, I did take him as a teacher, and I would be happy to be called his student. ”
The son-in-laws of Chen Yongzai became the biggest winners
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Dr. Chen Yongzai (middle) and his wife Qiu Xiumin (left)
This year Dr. Chen Yongzai and his wife Qiu Xiumin were invited to participate in the 70th anniversary celebration , The 85-year-old Filipino-Chinese executive said affectionately: "My heart is full of affection for my country! "He also said that every year we will go back. The ancestral (home) country has been built quickly and changed a lot. Now there are roads, bridges, and cars! The ancestral (home) country is strong, we are proud!
In the Philippines, Chen Yongzai was once the richest man in the Philippines. He is a big entrepreneur who everyone knows about in the Philippines. His business map covers different fields, from tobacco and beer to aviation and banking, from Greek yogurt to hotels, There are skyscrapers.
As the leading entrepreneur and banker in the Philippines, Chen Yongzai was originally a chemical engineer at the Far Eastern University and completed his university by sweeping work-study programs. Now, Chen Yongzai has the “king of the bank” on his head. "The King of Aviation", "The King of Tobacco", "The King of Beer" and so many laurels. As the honorary chairman of the Chinese Chamber of Commerce in the Philippines, Chen Yongzai is a legendary figure in the Philippine business community and a wealthy Philippine "king of kings." , Many researchers regard him as an important case for studying Chinese businessmen.
"I have been influenced by Chinese culture since I was a child, and I have benefited a lot in my life." In July 1934, Chen Yongzai was born in Qingyang, Jinjiang, Fujian. When he was 4 years old, he followed his parents to Cebu City in the Philippines. Because his father Chen Yankui was frail and sick, the 11-year-old Chen Yongzai was forced to drop out of school as a supplementary family. He used to work as a child laborer in a tobacco factory in Southern Luzon, the Philippines, as an apprentice. Chen Yongzai only officially joined the Philippines in 1960. Although he was educated in the Philippines since he was a child, he has always been fond of Chinese culture.
For a long time, Chen Yongzai believes that in the complex and fierce business wars, the reason why he can not change, turn things around, and resurrect himself from the dead is the spirit of Fujian businessmen, hard work, courage, and courage. , Wisdom, but also benefited from the extensive and profound Chinese culture. This is the foundation of his life and the source of his wisdom in the business world.
Chen Yongzai, Qiu Xiumin and his wife, daughter Chen Yishan and others attended the completion ceremony of the Chen Yankui Building of Huaqiao University
How old will the first generation, the second generation be Layout of family business inheritance can also learn a lot from Chen Yongzai.
Chen Yongzai once said: “ I dare to touch the tiger’s butt that people dare not touch. If you don’t do anything, you must do it well. ” In 1995, faced with years of losses. For the Philippine state-owned airline, Chen Yongzai dared to touch the tiger’s ass, took the controlling stake in Philippine Airlines in one fell swoop, and promised shareholders that he would turn losses into profits within six years, otherwise he would buy shares of other shareholders at the agreed stock price. For this reason, Chen Yongzai lost 10 billion pesos, which is extremely rare in the history of Philippine business.
In terms of inheritance, Chen Yongzai is also a wise person, especially who dares not to avoid relatives. Even if it is a family business, in dealing with the relationship between "public" and "private", in terms of selecting and appointing people, whether to choose one's own relatives, people around, or "from all corners of the world", will the use of one's own people be misunderstood by the outside world? Favoritism, especially how to deal with the talents of family members and relatives, how can we not avoid relatives and fear others' words? So where is the internal mechanism that does not violate "appointment on merit"?
Nowadays, many domestic listed companies are particularly taboo from outsiders saying that their governance is “family” and avoid guessing because of old age. Sometimes it is difficult to insist on recruiting talents and not avoiding relatives.
Chen Yongzai and his wife Qiu Xiumin in Anpingqiao, Jinjiang’s hometown
Yongzai, 85-year-old still healthy Chen Like many Chinese entrepreneurs, he "lives till he grows old", he still shoulders the main positions of many companies under the family, but he is also actively laying out the second generation of the family. The eldest son, Chen Junli, is currently the president of LT Group, and his third son, Chen Jianrong, is the founder of SK Chemical and La Isla Publishing Company. In addition to joining the management of Philippine Airlines, Chen Yina is now serving as CEO of Eaton Real Estate.
From the perspective of inheritance and layout, the second generation of Chen Yongzai is in the process of intergenerational relay "helping the horse and sending a ride", and presents a "division of labor, division of industry, no division of family" succession model. By the way, the Chen Yongzai family has an unwritten family rule, that is, they insist on speaking Chinese at home and can speak Chinese and Hokkien.
Chen Junwang, the deceased son and president and CEO of Philippine Airlines, said during a previous visit to Fuzhou, Fujian: The father’s generation of old overseas Chinese has wisdom, courage, courage, hard work and many successful businessmen. The qualities he possessed will not only consolidate and carry forward the foundation established by his father, but also inherit these spiritual wealth.
After Chen Junwang passed away, there are many rumors about the inheritance of Chen family property. Daughter Chen Yina Zeng Zhengyan responded: "His (note: referring to her brother Chen Junwang) is the most ardent desire for peace and harmony for all our family members. Now, how toRumors of the division of property are everywhere, and I call on all parties who believe in their father’s inheritance to look at and do things differently. Now is not to start planning our own position, but to help our whole family unite. ”
Chen Yongzai couple and Chen Yongzai's alma mater Jinjiang Experimental Primary School student group photo
Many members currently distributed in Chen Yongzai family. In its major industries, there is a situation of concerted efforts.
For example, in the senior management of the Hong Kong-listed "Dali Group", the chairman and executive director of the board of directors is Chen Yongzai. Son Chen Junwang, Chen Junli, daughter Chen Yina (Ms. TAN), and two sons-in-law Huang Zhengshun and Cai Yushi (Joseph Chua, also known as "Joseph Cai"), all executive directors of the company.
59 years old this year Huang Zhengshun is the brother-in-law of Chen Junwang and the niece of Chen Yonghan, Dr. Chen Yongjie and Zhang Zhiming. Chen Yongzai’s son-in-law, CHUA Joseph Tan, 62 years old, is the only trustee of Carnation Investments Inc. of Mr. Cai Liming’s private discretionary trust Director and shareholder.
Dali Group is a Hong Kong investment holding company mainly engaged in property business. Its investment properties mainly include office buildings, shopping malls and parking lots in Beijing and Shanghai. The company is engaged in financing and providing trust and management services. Incidentally, Huang Zhengshun is also a director of Yujing Xingye, which is engaged in real estate business in Xiamen and other places, such as Yujing Center located at the intersection of Lujiang Road and Xiahe Road in Xiamen.
Recently, the Philippine media reported that Chen Junwang’s son Lucio Tan III has officially assumed the position of president and chief operating officer of Tanduay Rhum Brewing Company under the family. From this action point of view, the third generation of the Chen Yongzai family has gradually stepped onto the stage and formed a pattern where the three generations of the old, middle and young generations work together.
On the evening of November 9th of this year, the Philippine Chinese ambassador Wu Yihui and his wife Elizabeth (Yang Wanwei)
, the Philippine Chinese ambassador, the honorary chairman of JG Summit Holdings, and the industrialist Wu Yihui died at the Admiration Hospital in Manila , At the age of 93. One day after her husband Wu Yihui was buried, his wife Yang Wanwei also passed away, only a week later, at the age of 85.
As mentioned in our previous article, Yang Wanwei was the second of the last century. Yang Zhi, the famous "Ruilong Iron Industry" in the 1930s Mother, descendant of Yang Zhongquan's family. Like her husband Wu Yihui, his wife Yang Wanwei was also born in Gulangyu, Xiamen.
In the Philippines, Shi Zhicheng, Wu Tianen, Yang Yinglin, Chen Yongzai, Wu Yihui, Zheng Shaojian are known as the "Philippines Six". With Wu Yihui's death, Chen Yongzai became the only living "Philippines Six". One of Taipan.
In terms of inheritance, Wu Yihui's business empire did not allow the relatives of his son-in-laws to enter the enterprise, that is, the principle of "non-in-law". Wu Yihui and Yang Wanwei have 6 children.
differs from Wu Yihui in that in the inheritance layout, Chen Yongzai treats his daughters and son-in-laws equally, and he does not avoid relatives, and always allows his relatives to enter and participate in the family business.
Like Chen Yongzai’s son-in-law Cai Yushi, who has always been the head and president of a listed company MacroAsia. In addition, like MacroAsia, he and his brother-in-law Chen Junwang have joined forces to grow stronger. In addition, several son-in-laws of Chen Yongzai have also joined the boards of many companies under the Chen Yongzai Group.
The Philippine World Journal reported that “Chen Yongzai is expected to formally appoint several of his sons-in-laws as new directors.” An industry insider from the Feihua community said: “The biggest winners are Chen Yongzai’s son-in-laws.”
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