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Haier's Zhang Named One of World's 50 Greatest Leaders
Mar 27, 2014
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Zhang Ruimin, chairman and CEO of Chinese appliance giant Haier, was named by Fortune magazine as one of The World’s 50 Greatest Leaders.

Zhang ranks No. 22 in the list of leading figures from business, politics, and society, who the magazine credits with “energizing their followers and making the world better.”

Pope Francis was named to the No 1 spot on the list. Also in the top 5:
• German Chancellor Angela Merkel
• Ford Motor Company CEO Alan Mulally
• Berkshire Hathaway CEO Warren Buffett
• former U.S. President Bill Clinton

Other notables on the list include the Dalai Lama, actress/humanitarian Angelina Jolie, and former United States Congresswoman Gabrielle Giffords.

Fortune credited Zhang Ruimin’s “radical management innovations” with transforming Haier into a global appliance giant. It pointed out that the company
“groups employees into small, self-managing teams that choose their own managers, compete for internal talent, and can earn big bonuses.”

Under Zhang Ruimin’s leadership Haier created a management system that puts customer needs at the heart of the product development process. Haier encourages staff to track evolving market trends and form autonomous project teams to address emerging opportunities. Each new project or market opportunity leads to the formation of a dedicated small team functioning as an independent company. The system is designed to foster internal entrepreneurship and innovation, and to make Haier more efficient and nimble.

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Daily News

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