Chapter 105: Who Agrees, Who Opposes (2/2)

The shareholders’ meeting is the highest governing body within a joint-stock company. All significant personnel appointments and removals, as well as major business decisions, must be recognized and approved by the shareholders’ meeting to take effect. They not only have the right to make decisions but also the right to dismiss.

If the shareholders united, even the chairman’s position could be challenged.

Therefore,

Li Jianjun’s word was not absolute. His decisions and ideas, if aiming for change, all had to convince the shareholders as the fundamental basis.

“Gentlemen, please share your opinions, especially those who were eager to convene this meeting. Let’s hear your main concerns!”

After Li Jianjun finished speaking, he asked his secretary to distribute the specific analysis reports of the recent pilot reform experiment areas and the simple situational analysis report provided by Manager Zhang to every attendee.

The shareholders were anxious. The company’s losses and asset compression directly affected each of their personal interests. Over the past two years, quite a few shareholders had grievances against Li Jianjun as chairman. Some had even considered replacing the board of directors, believing Li Jianjun no longer had the capability to serve as Erlunsi’s chairman.

One of the major shareholders didn’t even look at the report. Instead, he picked it up, scoffed, placed it aside, and then expressed his thoughts, which deeply hurt Li Jianjun.

“Old Li,”

“What business model does our Erlunsi use?”

“Isn’t it the essence of using social capital to do business together?”

“Therefore, we absolutely cannot have a one-man show here.”

“We’ve followed your lead on everything because you assured us your decision-making process was flawless.”

“In the past two years, following your strategies, our company signed a few top celebrities and spent a lot of money on massive advertisements in mainstream media such as CCTV.”

“We thought that under your leadership, Erlunsi could reverse its losses and go further.”

“But now, while our brand recognition has increased, our profits have decreased, stores have closed, and the economy has weakened. Tell me, is this because we didn’t support your work, or is it your responsibility for the decision-making error?”

“So, my point is, there’s no need to look at the annual report and financial statements anymore.”

“The so-called light-asset restructuring decision and analysis reports on experimental pilot projects you proposed are also unnecessary for us to appreciate.”

“Let me make a small suggestion as one of the major shareholders.”

“Given that Erlunsi has been unable to effectively improve its state of continuous losses for two years, I personally suggest that after your term as chairman expires in a few days, we should elect new board members.”

“If everyone agrees, I ask our legal department colleagues to get busy and prepare for a new election, to choose a team that can lead us from defeat to victory.”

“This is my real intention for urgently calling this shareholders’ meeting. Otherwise, if your next term continues, our company might be finished!”

“Gentlemen, I’ve said my piece. Who agrees, and who opposes?”

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