The gem should not become the executive Gold rush

Reporter observation-this reporter Uping like the U.S. westward movement when the "Gold Rush", the gem also for a lot of people brought huge wealth, which is the first to count the number of enterprise Board executives. However, as more and more gem companies enter the ban period, the upsurge of senior management turnover is also brilliant.　　Obviously, the frequent changes of company executives are not conducive to the long-term development of enterprises, the gem should not become executives of the "Gold Rush." According to statistics, more than 40 gem executives resigned this year, an average of 4 senior executives each month "flash", of which only the first batch of 28 companies to landing on the gem, 19 executives resigned.　　But for the reasons for resignation, most executives are vague, "personal reasons", "health reasons" and so become the most common reason. The root cause, in addition to these avowed factors, the gem of high valuation of the benefits of the temptation can not be ignored. According to regulations, in addition to a one-year lock-up period, the number of gem executives during their term of office should not be reduced by more than 25% of the company's shares, and in the six months of separation may not transfer the holding shares.　　This means that if the gem is listed for one year and the executive has been out of business for six months, the stock can be gradually set up. In view of this, October 30 this year will usher the first birthday of the gem, and before April 30, the senior executives will be able to reduce the cash immediately. So far, 12 of the first 28 gem companies that have been listed have "retreated" before April 30. This includes the net host science and technology former general manager Peng, the race for the intelligence former deputy general manager and Dong Secret Zhou Yi, Meteno former vice President Schwenbo. In accordance with the closing price of September 16, Peng holds 4.3151 million shares of net-bed technology, the market value of about 71.89 million yuan. Zhou Yi holds the game for intelligence 6.7903 million shares, the market value as high as 198 million yuan.　　Schwenbo holds Meteno 2.25 million shares, the market value of about 50.65 million yuan. At the same time, the average of 70 times times the high P/E is also to attract the size of the "paper on the rich" fall bag as an important factor.　　By October 30, the lifting of the ban on the gem, the lifting of the number of nearly 1.2 billion shares, is the current number of circulating shares about 1.2 times times, the lifting pressure can not be underestimated. In fact, the senior management-intensive departure for the development stage of the gem company is very unfavorable, especially the separation of senior executives, many belong to the company's core personnel, which directly affect the future business development. In fact, from the newspaper, the gem of the "high growth" has been exposed to fatigue state.　　Compared with the annual growth rate of 45.3% in 2009, the growth rate of the second-year gem is only 22.7%, while the medium-term performance of the SME board has reached 45.5% year-on-year. From a mature corporate governance structure, in addition to incentive measures, stable management is critical. Only focus on long-term development, enterprises can continue to grow.　　At present, however, the relevant regulations on the separation of senior management and the reduction of stocks are not perfect. Industry insiders pointed out that for the executive irrational reduction of shares of the behavior, the regulatory layer should draw up a corresponding exit mechanism, or to extend the Gem shareholders "cash" deadline, reduce the percentage of shares allowed to be reduced each year. may also consider to reduce the income to levy the capital profits tax, thus carries on the regulation and the restraint to this behavior.