British group Chairman "No" tracking: Investors want to replace big shareholders

-Our reporter rectifies the month as a listed company chairman, long-term outside of the company's business pay, also said in the listed company is the so-called 0 pay.　　Recently, "Securities daily" published "The British special group chairman has been discovered" false 0 pay ": the body and more than one salary elsewhere," the article put forward the English group (000411) Chairman of the other work of focus, the British group management mainly rely on general manager Kang support, causing investors strong response.　　Many investors have called, saying that since the chairman is not acting, shareholders should consider substitution.　　Why not in his position? 　　It is understood that the group chairman of the Feng Zhibin is not working in the group, the Office is in the final control of the group, although he does not receive wages from the British group, but from the group's other part-time units to receive remuneration. In this regard, financial commentator Pihai that the chairman is not listed companies to receive remuneration, first of all, that the chairman can not joys with the listed companies. The interests of listed companies have nothing to do with the immediate interests of the Chairman. In particular, the chairman is also outside the number of posts, for such a chairman, investors how to believe that he will be the interests of the company, wholeheartedly to the company's business done? 　　In particular, for some inefficient listed companies, the chairman does not take the company's remuneration, but does not exclude the outside to take high pay, so how can the chairman of the board to win the trust of employees?　　This reporter two times to call the British special group Dong, according to the staff, the Chairman of the office is in the middle of the group, as for the listed companies rarely appear, such as major events will be through the telephone and other means of contact. According to people familiar with the matter, the group, despite holding the petrochemical building materials group, has been trying to downplay its impact on the Anglo group of listed companies. "Because the actions of listed companies need to be strictly enforced in accordance with legal norms, the medium will try to avoid the impact." Professor Chen Shenjun of the Foreign Trade and Economics University believes that it is precisely because of the dilution of the group, the company Chairman's position will become an empty shelf.　　Feng Zhibin as chairman of the company, whose main purpose is to hold the ownership of the group. However, the Sinochem's approach still has been criticized by investors: "Feng Zhibin and vice chairman Zibin are sent by China Sinochem Group, but in fact, the ability to deal with is really not flattering, because they were in charge of the chemical industry." If the long-term management of this, the company and its subsidiaries of the operating performance will be greatly affected. April 20, 2009, the Board of Directors of the group received a written resignation letter from Mr. Zibin, Mr. Zibin decided to resign from the company's director and Vice chairman for the reason of his job transfer.　　Under the Articles of Incorporation, Mr. Zibin's resignation took effect on April 20, 2009. With investors holding a distrust of the leadership of the group, investors are supportive of the resignation of the Zibin directors: "Today's Anglo Group and its subsidiaries canThe success of the business is actually entirely dependent on the results of the efforts of general manager Kang and the original management team as well as the management teams, not the results of Feng Zhibin and Zibin. "Just a little piece in the hands of the actual control." Chairman Feng Zhibin not work in a listed company or pay for a listed company This means that he is not aware of the usual business activities of the Anglo group, it can be seen that the chief Feng Zhibin of the group's chairman is focused on the Chinese group rather than the listed companies. Professor Chen Shenjun that the Feng Zhibin's behavior is "omission", and that the origins of this result are likely to stem from the attitude of the group's actual control of the company to the listed companies. "This only means that the real purpose of the group is not in the Anglo group." "Review history, June 12, 2008, the Sino-chemical Group and the Zhejiang Provincial Sasac signed an agreement, the Petrochemical Building materials group registered capital changed to 1.47 billion yuan."　　Among them, the Zhejiang Sasac shareholding 49%, the Chinese group shareholding 51%. Because, petrochemical building materials group by holding Zhejiang Longhua Industrial Group Co., Ltd. 39% of the shares thereby holding Zhejiang Hualong Real Estate Development Co., Ltd., Zhejiang China Industrial Development Co., Ltd and Zhejiang East PU Industrial Co., Ltd., and these companies are holding the shares of the Anglo Group, combined with a total of 28.07% shares.　　As a result, the group is holding 51% of the shares of the petrochemical Building materials group, and thus indirectly holds 28.07% of the shares of the group, and has become the actual controller of the Anglo group. The reorganization of the listed company is a good news for investors or the company itself, whether it is the reinvestment of the controlling party or the allocation of resources, the listed companies will benefit from the controlling shareholder.　　But it is not the case for the group holding the group. British group is a pharmaceutical circulation enterprises, the main business of pharmaceuticals, Chinese herbal medicine and medical equipment.　　Some insiders said that although the group in Zhejiang province has a good resource, but the market personage said it is not by the Chinese group "bullish." After the reorganization, the group, which became the actual controller of the group, openly indicated that the group's main purpose was to increase the capital of the Petrochemical building materials group, rather than holding the group. Feng Zhibin has said that the group will speed up the promotion of fluoride chemical resources, to build the petrochemical building materials group after the capital increase.　　At that time, the group also said that the Chinese group has become the actual control of the situation is not targeted by the active acquisition, the Chinese-oriented petrochemical building materials group in the field of fluorine chemical advantage.　　All indications are that the acquisition target of the group from beginning to end are petrochemical building materials group, as for the British group can only be counted as "ancillary products." Professor Chen Shenjun speculated that the Chinese group's handling of the listed companies from now on can be seen that the group is not very care about the operation of the group, also shows that the Chinese group's investment, development focus is not in the Anglo group, but in the petrochemical building materials group, but this is not a good thing, which will cause the British group in the middle of the group's position in the " Marginalization "and will lead the group in the actual control of the fundingThe source configuration is in a backward position.　　Experts call for a clear idea of the development of the British group to show that they do not want to participate in the operation of the British group, it may be to stabilize the market, but Prof Chen Shenjun thinks the company's variables will increase if the group is really going to fend for itself.　　This reporter once again called the British special Group Dong, its staff said that the British group after the reorganization of the Chairman, in addition to changes in the board, no change, the group did not carry out any investment or participate in the operation of the action, if any, the company will issue announcements.　　Even if the Chinese group only appoints a chairman who is not involved in day-to-day operations, it is still a danger to the group. Financial commentator Pihai that the chairman is responsible for the development of the company. Once the company has a major accident, the chairman of course to bear the corresponding responsibility. But one of the common ways of taking responsibility is to assume the necessary economic responsibility.　　If the Chairman's remuneration is not in the company, the Chairman does not have to bear the corresponding financial responsibility, this is not convincing. Professor Chen Shenjun said: "The Anglo-group management model has shown that the company's ownership and operating rights of separation, the separation of the two rights of the model will become a destabilizing factor within the company."　　"He thinks that holding shareholders do not participate in the operation of listed companies is not common, is a special case, such as the Chinese group is not involved in the group is not a good phenomenon, although it seems to be in a peaceful environment, but this is temporary, unstable, as the actual control or should exercise their duties.　　holdings of petrochemical Building materials group, the group has announced a series of follow-up plans, plans to change or restructure the company's main business in the next 12 months will not be restructured with the group or its sub companies in the next 12 months, and "there is no change to the current board or senior management plan for listed companies".　　Regardless of whether it is not a good phenomenon, but on the contrary, if the Chinese group to change the strategic thinking, but want to participate in the operation of the British group, then the listed companies are a lot of hidden dangers. "Since the actual control of the group has become a group, there have been no other changes in the company's business except for the appointment of the chairman." This situation is rare in the merger and reorganization cases of listed companies. Professor Chen Shenjun to this newspaper reporter to mention: "At present, it seems that the group is still a laissez-faire stage, but this situation can continue to how long it is no longer known, once one day, the group changed its mind, decided to participate in the operation of listed companies, then the listed companies will have more variables. "Pihai also believes that the listed company chairman is not in the unit to receive remuneration, and to the major shareholders to pay, such a chairman in the interests of large shareholders and the interests of the company conflict, how to maintain the interests of listed companies, this is also to reassure investors."