Former Unicom high-level job-hopping after the rise of the value of the operators Heart move

Less than 4 months into office, that is, the million-share option-the virtual operator to dig horns "profit" the word.

June 19, a mobile phone channel business with virtual operations, Shenzhen Eschde Co., Ltd. (002416:SZ) issued a third equity incentive plan (draft), to the company directors, executives and other 51 people issued a total of 20 million stock options, which, February 28 This year, Eschde vice chairman of the Zhou You Union was awarded 1.12 million.

Zhou You is the former China Unicom, the general manager of China Unicom Marketing department, Guangdong Unicom deputy general manager and other posts. Last December, Zhou resigned from Unicom, joined the Eschde, and detonated a group of operators in the subsequent high-level job-hopping small climax.

In addition to the 1.12 million shares of the stock options, the outside world rumors of the Zhou You Alliance to get a 3 million yuan salary commitment. In contrast, China Unicom chairman Chang and Chinese mobile Chairman Xi last year's annual salary of 1.148 million yuan, 2.275 million Hong Kong dollars respectively.

"Operators are positive, especially at the top. "Zhang, the chief executive of the media, said to the 21st century economic reporter that while virtual operators can provide higher salaries, on the other hand, with the promotion of anti-corruption, traditional operators to obtain gray income of the space is compressed, the risk is magnified.

Zhou You Union job-hopping sample

According to the equity incentive plan announced by Eschde June 19, this target includes the company directors, senior managers and other core business, technology, management backbone, a total of 51 people, total awarded 20 million stock options, accounting for about 2% of total equity. Each stock option, in the case of satisfying the right of the bank, has the right to purchase 1 shares of the company's shares within the validity period of 14.16 yuan/share, for a period of 5 years.

Among them, Eschde, vice chairman of the Zhou You Union, was awarded 1.12 million stock options, accounting for 5.6% of the total grant rights, after Eschde chairman Huang Wenhui 1.86 million, as well as director and President Legaming 1.52 million.

June 19, Eschde shares fell 5.72% to 13.35 yuan closed. Despite the current stock price, the given option is equal to a scrap of paper, but the future price will bring a potential value-added space.

At the end of last year, Zhou You resigned from the general manager of China Unicom's marketing department, Job-hopping Eschde, and served as vice chairman of Eschde this February 28. "Less than 4 months in office, that is, the million-share option" means that the Zhou You is likely to face a significant increase in turnover.

In fact, in addition to these 1.12 million stock options, which have the potential to add value, the Zhou You has a significant increase in remuneration than in China Unicom.

Although Eschde has not released the Zhou You union's specific remuneration figures, the previous speculation of the 3 million yuan annual salary is not unfounded.

Eschde previously announced the "on the adjustment of 3721.html" >2014 director remuneration of the bill shows that the company chairman Huang Wenhui, vice chairman of the Zhou You Union 2013-year salary structure for fixed pay plus floating pay. Adjusted fixed compensation interval between 1.5 million-1.7 million yuan, floating pay in accordance with the annual after-tax net profit a certain proportion of the performance bonus.

The remuneration of Zhou You's predecessor in Eschde is to be referenced. Eschde announced that in 2013, the original vice chairman of Guo Yong (now left) from the love of the company received a total of 2.91 million yuan compensation.

In addition, ESCHDE chairman Huang Wenhui in 2013 the total remuneration received from the company amounted to 8.29 million yuan, the actual remuneration is 4.74 million yuan.

Compared with the high salary after the virtual operator, Zhou You's salary in China Unicom is obviously much lower. Although the specific figures are hard to verify, even Chang, chairman of China Unicom, paid only 1.148 million yuan in 2013. Other such as China Unicom director and President Yimin, director of Bingiro, director Li Fusheng, chairman of the Board of Supervisors Jianguo, 2013, respectively, 1.027 million yuan, 962,000 yuan, 912,000 yuan, 962,000 yuan.

Even with the largest number of users and the most heavily-financed China Mobile, its Chairman, Xi, had a total payroll of HK $2.275 million in 2013. According to China Mobile's 2013 annual report, the 2.275 million Hong Kong dollar salary is made up of HK $180,000, salary, allowances and in-kind income of HK $1.174 million, job performance bonus of HK $634,000 and retirement scheme of HK $287,000.

Li, executive Director and CEO of China Mobile, paid a total payroll of HK $2.087 million in 2013.

The contrast in salary payments within and outside the system partly explains why the top executives of operators at the end of last year and early this year have been hopping.

In addition to Zhou You Alliance Job-hopping Eschde, the former director of the Institute of China Unicom Liu Chenming is the head of the virtual operation of the United States, the virtual operation of the music language of the business owner is the original general manager of the Chinese Telecom Terminal Company Assistant Ning; Bus online Vice President Song Hongshen has served China Mobile, sharing online Kangzhibin, Jingdong Mall Pao are all from China Telecom, the former Chinese mobile Guangdong Terminal Branch general manager Pan Zhiyong was once "transfer" Su ning.

Operators ' minds move

With the Chinese virtual operators licensing, all the way capital to kill into the telecommunications market, need to be familiar with the telecommunications business operators to join, so, have started from the traditional operators to dig the Horn of the action.

"It should be said that the operators of the middle and high level are basically very powerful people, high quality, experienced, have the ability, very to the needs of virtual operators." "Zhang said.

As for the supply side, Zhang's judgment is: "As long as there is the right opportunity, will want to jump, people think move is inevitable." ”

Zhang that the reason: first, the current telecom industry increasingly fierce competition, the traditional operators of the business model has been challenged, for example, the original revenue of the main voice, SMS revenue by micro-letter and other OTT business impact, the flow of income management to increase the effect of limited. In this case, China Mobile has seen its first net profit decline in more than 10 years, while some operators have seen a net outflow of users. Looking to the future, the increase of operating cost will be further released by the pilot, the change of telecom tariff by market regulation and the surface of virtual operators, also means that the regulator is releasing the signal of further introducing competition mechanism. These will have an impact on the growth of the operator's employee income.

"The operator's internal KPI is rigorous, but overall revenue growth is disproportionate." "Zhang that the level of employee income in the telecom industry is better than in many sectors of society, but its own vertical contrast, growth is limited."

The second is the anti-corruption factor. In recent years, the telecommunications industry has become a corruption case, especially in China Mobile corruption Nest case is the most outside attention. Zhang that the corruption case, which continues to surface, has in some way exposed the problem of grey income in the industry. But it is certain that national anti-corruption efforts will not weaken, the future of the risk of obtaining gray income is very high, space will be compressed.

Third, the traditional operators of the middle and high income and virtual operators out of the price gap, but Zhang also judged that the operator's incentive mechanism in the short term will not have much room for improvement.

In China Mobile, for example, its staff income is based on basic wages, performance bonuses, and equity ownership as a long-term incentive plan. China Mobile's annual report shows that in 2013 its total labor cost was 34.4 billion yuan, an increase of 10% from the previous year, accounting for the proportion of operating income of 5.5%, but labor costs have increased while the number of employees is also increasing. By the end of 2013, the total number of employees was 197,000.

As for the shareholding scheme, China Mobile launched an equity plan in 2002, but the plan was terminated on June 24, 2012. Throughout 2013, China Mobile did not grant or revoke any option.

"Now I have not heard of anyone jumping to a virtual operator, but the human mind is really a bit." "June 19, a Guangdong operator insiders said to reporters.

Of course, in terms of Zhou You's stock options incentive, the final line will also depend on Eschde performance over the next few years. Eschde in the announcement, "the company 2015 annual operating income than the 2013 growth rate of not less than 20%, net profit than 2013 growth rate of not less than 20%".

In fact, due to the loss of Eschde in 2012, can not meet the company's first share incentive performance requirements, the cancellation of the stock option 13,578,280, repo cancellation of restrictive stocks 6.484 million shares.