Xiaomi has announced the latest executive appointments. Peng Zhibin, former vice president of Country Garden, joined Xiaomi as the vice president and chief talent officer (CHO) of Xiaomi Group. Peng Zhibin, 47, will be responsible for the strategic planning and formulation of Xiaomi Group’s human resources, as well as the construction of the human resources management system, and will report to CEO Lei Jun and Group President Wang Xiang.
Public information shows that Peng Zhibin has served as Vice President of Country Garden Group, General Manager of Human Resources Center, and Regional President of Lanzhou. He also worked for COFCO Real Estate, Watson Wyatt, ZTE Corporation, China Railway Fourth Institute, etc. Xiaomi said that the introduction of high-end talents and the training of fresh graduates are the focus of Xiaomi’s human resources investment.
Since the beginning of this year, Xiaomi has introduced a series of executives such as Chang Cheng (Vice President of Xiaomi Group), Yang Zhe (Vice President of Xiaomi Group and Chief Marketing Officer of China), and Zeng Xuezhong (Vice President of Xiaomi Group and President of Mobile Phone Department). Just a few days ago, Xiaomi Group also disclosed that Lin Shiwei, managing director of Credit Suisse Asia Pacific Investment Banking and Capital Markets and head of technology, media, and telecommunications business will take up the position of CFO, and will officially take the post on October 8, 2020.
On August 11th, Lei Jun announced in a public speech that Xiaomi’s “re-enterprise” has put talent strategy at the top of the list. On August 16, Xiaomi announced the implementation of a partner system. Wang Xiang, Zhou Shouzi, Zhang Feng, and Lu Weibing became new partners, and the Xiaomi partner team expanded to 9 people. At the same time, Lei Jun launched the “New Decade Entrepreneur Plan”, announcing that in the future, 100 young core cadres will be selected to give rewards similar to early entrepreneurs and encourage them and Xiaomi to start a new venture together.
How to attract and retain talents for a long time? Equity incentives.
On September 4, Xiaomi issued an announcement on the sale of share options, stating that according to the post-IPO share option plan, a total of 218 million rights were granted to subscribe for shares. The exercise price of the granted share options is HK$24.5 to subscribe for 1 share, and the validity period of the share options is the last day of the 10-year period after the date of grant of the share options. The announcement shows that Xiaomi has granted 100 million share options to the company’s executive director Zhou Shouzi. In addition, Xiaomi said that a total of 18 million award shares were awarded to 3 selected participants under the share award plan.