Reaching the age of thirty, my income randomly doubled
Chapter 1084: 808: The Second Passing of the Baton

Chapter 1084: Chapter 808: The Second Passing of the Baton

Teng You Media is experiencing significant turmoil internally.

Financial media, including numerous journalists, are camped out at the Teng You Media headquarters, eager to learn more about the sudden resignation of two senior vice presidents.

Meanwhile, the stock price has begun to fluctuate dramatically, dropping more than 8% in just three days, equivalent to more than 80 billion in market value.

In the past decade, Teng You Media’s stock price has fallen below one trillion for the first time.

Many people want to ask, what’s going on?

Clearly, a drop in stock price indicates a panic in the market.

This has led many to sell off their Teng You shares en masse.

Journalists want to probe inside, but even internal management is unaware of what exactly has happened, as if suddenly, a wave of loyal senior managers following Zhang Wanyi is either being replaced or dismissed one by one.

Whenever such a major personnel change occurs in a group, it often indicates a struggle between internal factions at the top.

But who in Teng You Media could possibly challenge Zhang Wanyi?

No one knows, and there hasn’t been any rival news emerging; the message came out suddenly and even more unexpectedly.

But Mu Lanqing from a small short-drama company is very clear, all of this was because after that dinner, Zhang Wanyi, the queen of media, was obviously warned, which led her to start relinquishing power voluntarily.

Teng You Media, after all, is a super-large group with over a million employees, and its internal staff discuss these rumors every day.

For the average employee, in such a large group, they might never encounter a senior president in their lifetime.

Their news seems like it’s about their own home, yet also about someone else’s home.

Even the internal staff haven’t sorted it out amidst the commotion, let alone external reporters.

All they can see is that top management is issuing notices, and there are significant personnel changes internally.

Teng You Headquarters Building, twelfth-floor Human Resources Department.

Four employees gather in the coffee bar discussing, with one saying: “What’s happening with our group? Why did President Lu and others suddenly resign?”

“Who knows, maybe it was Chairman Zhang who personally asked them to leave?”

“Stop guessing, just check your internal email.”

“What about the email?” a girl wearing glasses asked curiously.

“Just open it and you’ll see, there’s a letter from the former chairman in it.”

The former chairman sent out an internal email, and every employee in the group could receive it, which is a typical employee notice.

These people guessed right, the email’s title was “Employee Notice”.

This letter was personally written by Chen Pingsheng.

“Twenty-eight years of entrepreneurship, weathering the storm together, the group has transformed from its initial entrepreneurial state to becoming today’s industry giant.

“Yet… giants often don’t die from external competition but crumble first from internal decay.

“For any management, if you’ve been in a position for over five or ten years, look around your department—is there a newcomer more suitable for your position?

“If your response is no, then it proves you’re not a good manager, and if you know there is but suppress them for your own selfish desires.

“That proves you are no longer suitable to stay in the group. Selfish desires are the fastest way to destroy a group and are the root cause leading a giant company towards decline.

“Don’t let us destroy everything we have painstakingly created, and don’t let us forget the path we once trod. Think about when you were a newcomer and compare it to how you’re acting now that you’re an elder.

“Don’t let selfish desires destroy what we have created, and don’t let the million employees within the group be disappointed. We have the responsibility and duty to always provide them with a fair and just stage.

“Chen Pingsheng.”

On the same day, at least ten million people received this internal employee letter.

This is also the first public letter sent 13 years after the former chairman’s retirement.

The letter directly pointed out the current biggest personnel issue within the entire group.

Since Chen Pingsheng left the group, although the group has maintained stability and growth, underlying issues have already been sown.

The biggest of these issues is undoubtedly the many high-level positions in the group that have been occupied for too long, with occupants unwilling to leave.

Even knowing there are more suitable candidates below, or that they themselves are no longer capable, they still refuse to budge, resulting in stagnation within the group for the last five years.

Development is for everyone, but destruction takes only a few years.

At this most critical stage, Chen Pingsheng again reminds all executives that self-reflection and self-examination are necessary.

That very night, the Economic Research Institute, including the Consulting Team and the Seven Chief, jointly proposed that the entire group undergo a month-long self-reflection and self-examination.

The target is clearly aimed at management who have been in a position for over five years.

For any president-level position held for over eight years, either they have to support rotation or face dismissal.

There is no second choice. Once the letter was issued, anyone with some insight could connect the dots.

The previous events in Teng You Media were just preludes, and the founder of Tengying Group must have personally communicated with Zhang Wanyi, his former secretary and now the global media queen.

Otherwise, why would she be foolish enough to sever her own support by dismissing two vice presidents who had been with her for twenty years?

It is known that no matter where you are, position is just one aspect, but to have others listen to you, you must have your own people.

Otherwise, it’s impossible to achieve an autocratic leadership or excessive concentration of power within the group.

With Zhang Wanyi taking the lead, other companies including the group inevitably must follow along.

Many veterans might face layoffs in this storm, but the group has also provided these veterans with the best possible arrangements and benefits.

Their contributions won’t be forgotten, but the group’s progress requires more newcomers to complete it.

History rolls on, ever since Chen Pingsheng completed the first handover after his initial retirement, in the thirteenth year after his retirement, Tengying Group also needs to undergo its second historical reform and handover.

A new generation replaces the old.

None of them can avoid it; managing a company is like this—it requires constant change and innovation, and one must never become complacent.

Chen Pingsheng also needs to personally oversee these senior group members to ensure they can all smoothly retire.

At this stage of development, external competition can hardly defeat Tengying, including Tengfei Group.

Only internal strife within the group can cause its rapid demise.

And the transfer of power within the group is the most critical factor.

In just one month, Teng You Media replaced eleven senior president-level executives.

Additionally, there were countless other senior managers and department heads who were replaced as well.

Since the internal letter was issued, other enterprises have faced the same tremendous personnel changes.

Mu Lanqing watches the news every day. She never thought that news that has caught the attention of the entire domestic business and financial world would stem from a small dinner among the three of them.

Even someone as high and mighty as Zhang Wanyi had a day when she got warned.