Wu Yajun stepped down as chairman of Longfor Group, 40-year-old Chen Xuping took over

On October 28, 2022, Longfor Group announced that the company’s CEO Chen Xuping was promoted to chairman, and Shen Ying, general manager of human resources, served as executive director, and former chairman Wu Yajun resigned due to age and physical reasons. Chairman of the Board and appointed as the company’s strategic development consultant. Vice Chairman Shao Mingxiao was transferred from executive director to non-executive director.

Wu Yajun led Longfor Group from the southwest corner to the whole country and became the world’s top 500. Shao Mingxiao has been with Longfor for 16 years and has been selected as the best CEO by Forbes China for two consecutive years. Now that the two are in their sixties, the company has been handed over to the young management team, which means that the management of Longfor Group has successfully completed the handover.

The new chairman, Chen Xuping, is a post-80s graduate and graduated from Tsinghua University. After his experience in the positions of engineer, engineering manager, project manager, and head of the investment development department, he became the general manager of the Chengdu company at the end of 2016, and was appointed as the group COO and general manager of Real Estate Channel in July 2021. Appointed as Group CEO.

In the opinion of Wu Yajun, founder of Longfor Group, Chen Xuping embodies the sincerity, diligence and simplicity of Longfor genes. Wu Yajun spoke highly of Chen Xuping: “His understanding of the business, his vision for the future is relatively complete and systematic, he speaks carefully and diligently, shows strong directionality and result orientation in his work, and has a relatively comprehensive knowledge structure. Therefore, it has established prestige among the employees and gained the respect of other executives in the company.”

In fact, Chen Xuping’s journey from school enrollment to chairman is also the process of Longfor Group’s de-familialization and in-depth institutionalization, which is exactly what Wu Yajun hopes to see.

In 2009, in order to reduce the company’s family business color, Cai Kui, one of the founders of the company, resigned from the company’s vice chairman and other positions in the company, and started the first step of “de-familyization” of Longfor Group; in August 2011, Wu Yajun Announcing his resignation as CEO and handing over to Shao Mingxiao to take over, the process of “de-familialization” has been further advanced; now, Chen Xuping has become the second chairman of Longfor Group since its establishment 29 years ago, which also marks Longfor’s modern corporate governance has entered a new stage.

In Wu Yajun’s view, Longfor should truly become an institutionalized company, get rid of the characteristics of the entrepreneurial period, and create a deep institutionalization.

“The characteristic of deeply institutionalized organizations is that they do not depend on founders and elites, but are further group-based and professional,” Wu Yajun said.