Shin Kong Mitsukoshi, the leading department store, held a board meeting today to re-elect the chairman. The pan-Shin Kong system represented by Wu Dongjin, the former chairman of Shin Kong Gold, intends to fight for the director seat, and the Wu Dongxing family, represented by the current general manager Wu Xinyang, once again staged a dispute between uncles and nieces. In the end, Shin Kong Gold Chairman Wu Dongsheng served as director, Japanese representative Toyohiko Tanaka served as vice chairman, and Wu Xinyang continued as general manager.
Shin Kong Mitsukoshi’s current shareholding ratio is Japan Mitsukoshi Isetan holding 43% as the largest shareholder, Pan Shin Kong Group holds 40%, and Wu Dongxing’s family has about 17%. Pan Shin Kong Group, led by Wu Dongjin, has been actively fighting for Shin Kong The management right of Mitsukoshi accelerates the listing time of Shin Kong Mitsukoshi stock.
The term of office of Hideyuki Murakami, the former chairman of Shin Kong Mitsukoshi, has expired. The re-election of the board of directors was held this morning. Both Wu Dongsheng and Wu Xinyang were nominated candidates. Due to disputes over the candidates for the chairman and vice chairman of Shin Kong Mitsukoshi in recent years, the Japanese directors requested Wu Dongsheng After the 2-year and 3-month term of office, the next board of directors must be succeeded by the third generation. The dispute between uncles and nephews has turned into a reconciliation between uncles and nephews. Only director Wu Dongliang still expressed his objection in the meeting, but all clapped and agreed that Wu Dongsheng would take over. Chairman of Shin Kong Mitsukoshi.
After Shin Kong Mitsukoshi’s former chairman Wu Dongxing passed away due to illness in 2020, the position of chairman fell into disputes. The willing Wu Dongjin and Wu Dongxing’s family could not reach a consensus. In the end, the Japanese shareholder Mitsukoshi Isetan represented Murakami Hideyuki as chairman , Wu Dongxing’s second son, Wu Xinyang, served as vice chairman and general manager, breaking the practice of having Taiwan as the chairman of the board in the past 30 years.
Last year, Wu Dongjin made another attack, hoping to fight for the position of vice chairman, but failed to reach a consensus in the three board meetings. In the end, the election of vice chairman became an issue that was shelved indefinitely.
The reelection of the chairman this time will return to the practice of Taiwan as the chairman and Japan as the vice chairman.
Under the leadership of Wu Xinyang’s management team, Shin Kong Mitsukoshi has survived the epidemic storm. Last year’s revenue reached 88.6 billion yuan, a record high. This year, it will challenge the target of 92 billion yuan. The business performance is obvious to all. affim.
Wu Dongsheng also said that he would not judge Shin Kong Mitsukoshi’s operations just because he took office, and he affirmed that Wu Xinyang has led the team to achieve excellent results in recent years, and believes that Wu Xinyang is the best candidate for the next board of directors.
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