CHENGDU, Nov. 23 (NBD) -- 30-year-old Hu Jiajia started serving as the chairwoman and president of Metersbonwe（002269,SZ）, China's leading casual wear apparel company, according to a notice published by the company on Monday evening.

The leadership transfer was made following her father Zhou Chengjian’s resignation from Metersbonwe’s chairman, board director, director of relevant committees affiliated to the Board of Directors as well as president. It was reported that the transfer indicates strategic changes inside the company.

Zhou Chengjian, also the founder of Metersbonwe, is 51 years old and his daughter Hu Jiajia born in 1986. Hu’s term will valid until the end of the company’s third Board of Directors.

Graduated from Marangoni Institute London campus in UK, Hu had chronologically worked at the chairman office, the shoes development and operation department, marketing department and strategic development department of the company.

This leadership transfer seems sudden yet well-prepared to the business circle. Zhou Chengjian has once expressed that new Zhejiang entrepreneurship should pass on to the young generation. In his opinion, it is challenging to transform the old Zhejiang entrepreneurship into a new one with currently existing knowledge structure and thinking pattern. He was quoted as saying, “we should seek for opportunities, if possible, to entrust the young generation with the mission to accomplish the transformation of enterprises”.

In fact, it’s been over 30 years since China’s reform and opening-up in 1978, during such period, private enterprises in China have been gradually growing up and thriving. Now, it's the time to transfer leadership. 

Other than Metersbonwe, as of this report was released, 10 more listed private companies have been undergoing leadership transfer to the second generation, including Kingbridge (002447.SZ), Jinyu Car City (000803.SZ), Jiangnan High Polymer Fiber (600527.SH), Shanghai Kinlita Chemical (300225.SZ), Shenke (002633.SZ), Tianjin Saixiang Technology (002337.SZ). Besides, Wangfu, son of Wang Zhongjun who is the chairman of Huayi Brothers (300027.SZ) and Liu Deming, grandson of Liu Shizhen who is the previous actual controller of Luthai A (000726.SZ) are preparing for the succession.

These successors have the same labels, young and well-educated. Among 13 successors mentioned above, 11 are born in 1980s, 2 are born in 1990s. Five of them obtained a master degree, 6 of them received education abroad and most of them have once taken positions in the company.

A market observer said these successors know well about the structure and conditions of the company itself. Judging by such facts, they are expected to excel their predecessors. However, the development of an enterprise is not only influenced by the decision maker, but also subject to macro economy, industry prosperity and other elements. The market would tell whether these successors are qualified or not. Enditem