Media Coverage

Fosun Expands Ranks of Partners to Improve Management Amid Global Expansion

Resource:

The South China Morning Post interviewed Fosun CEO Liang Xinjun and published an article, telling stories about Fosun’s global partnership program and its corporate management. Following is the abstract.

 

Liang said Fosun now had 196 managing directors. Almost half – 89 – were based offshore, with 80 recruited as local talent. All the managing directors report directly to the board and chief

executive, with endorsement from the partners.

 

The company’s reporting procedures previously involved more layers and took longer.

“In this way we have made communication much more efficient and accurate,” Liang said. “The expanded partner team shares the responsibilities and risks.”

 

By shifting more responsibilities to senior overseas managers, Fosun’s management had become more project-oriented, and quicker in responding to market changes. Also, the intermediate and backstage teams had been merged into business operations to provide strong, systemic support, Liang added.

 

Liang said in addition to introducing the global partner scheme, Fosun had a new “unicorn” strategy for future development, and planned to focus in future on discovering and investing

in profitable unicorns.

 

He said a unicorn was a project that could generate a US$1 billion profit for Fosun in two years, or one where the valuation of its investment could increase by US$1 billion in two years. “Typically, a unicorn is created by utilizing idle and cheap resources through mature products and business

models, or promoting traditional industries with mobile internet and artificial intelligence,” he said.

 

He said Fosun had already invested in a few unicorns in the health, wealth and happiness sectors, three core themes of the company’s business.