Succeeding fleeing China during the turbulence that marked the beginning of the communist regime, the Wang Group was created by Alfred Wang in Hong Kong. After successfully building up the diversified trading company and expanding to several other Asian states, in 1995, his second son, a magnetic leader, Charles Wang took over the business.
Charles wished to develop a more sustainable family business, tuned in to the international tendencies of today, and run by non-family members. To this end, Charles hired an outside CEO to implement his vision after executing a far-reaching corporate change program. The international economic crisis that began in 2008, however, brought the departure of the recently hired CEO and also losses, and caught the business midway through the reorganization. Charles Wang had to reconsider the path towards a sustainable future for the family firm, and had no other alternative than to take up the top job himself.
PUBLICATION DATE: April 05, 2012 PRODUCT #: W12853-HCB-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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