In order to improve the Company’s overall management support and organization, Xiaomi has made some major changes in its organization. The changes mainly include the rotation and promotion of the Company’s executives.
Currently, Xiaomi holds the fourth position globally, in terms of Smartphone market share. However, over the past few years, it has been expanding its portfolio to other areas as well and is doing much better than expected. Xiaomi recently revealed its financial status and reported a net 3.5-billion-yuan profit, exceeding market expectations. The Company is gearing up for its growth into the 5G and AIoT sector next year, which is why, according to Lei Jun, Founder, and CEO of Xiaomi, the organization needed rotations.
A total of six executives are, reportedly, rotated for now. One of the Company’s co-founders and Senior Vice President, Li Wanqiang, recently confirmed that he will be leaving the Company soon. Apart from this, three executives, Lin Bin, Wang Xiang, and He Yong were promoted to higher positions while Zhou Shouzi and Lu Weibing have been moved to other business lines of the Company.
Xiaomi’s Founder and CEO, Lei Jun, while talking about these organizational changes told the media that the Company’s organization needed changes mainly because of the 5G and AIoT related plans it has to execute next year. He also expressed his gratitude towards Li Wanqiang since he has been a great asset to the Company and has headed several projects including MIUI, Xiaomi.com, Xiaomi Brand Market System and some others. Li Wanqiang has also contributed a lot to Xiaomi’s business model verification and implementation, corporate culture and brand building.