Fang Hongbo to retire in two years? Midea responds: To appoint new CEO based on company strategy needs.

Midea Group recently announced that, based on the company's strategic planning needs, the board of directors has appointed Wang Jianguo as the company's executive president, with him no longer serving as the company's vice president. This is the first time Midea has established the position of executive president since Fang Hongbo became the chairman of Midea Group. Previously, there were reports stating, "Fang Hongbo will retire when he turns 60, and he will complete the historical mission of achieving 500 billion yuan in revenue before that." This has attracted attention from the industry regarding Fang Hongbo's retirement in two years. This evening, Midea Group responded in communication with Sina Technology, stating, "Due to the company's strategic planning needs, the position of group executive president has been added to assist the group president in handling relevant work." Midea did not respond to the matter of Fang Hongbo's retirement.