The Youngest Son Of A Rich Family - Chapter 165
[165] Slim and tight 5
out of 10.
There is no word more suitable than this.
Isn’t it the presidents who welcomed the separation of ownership and management and that they would not be involved in management at all?
Instead, it is natural to choose someone who will be responsible for management on behalf of the owner. The representative is not an outsider, but a great talent that they themselves recognize. Jang Do-hyeong, executive director.
If they oppose even this, all the words they have said about worrying about the company are just words of mouth.
They weren’t worried about the company, they were just worried about their position.
If you oppose executive director Jang Do-hyeong, you will not only embarrass CEO Yang Woo-chan, who praised him so much, but also make a fool of chairman Jin, who allowed the unprecedented promotion.
What if you agree?
Until today, subordinates who were treated as subordinates must be treated as superiors. Giving your resignation without saying anything looks good.
If I were the general manager, there would be a justification for not quitting.
Because it is the owner’s family and the majority shareholder.
“Why are you looking like that? Does Jang Do-hyung, executive director, not have qualifications? Aren’t you trustworthy?”
Who will answer what?
I exchanged glances with the four of them once, but none of them spoke easily.
They look at their grandfather. It is even ambiguous whether they are waiting for instructions or asking for help.
However, the grandfather turned his eyes away from them and rather urged the answer.
“what? Did you ignore the major shareholder’s question? It’s not a management issue, it’s a personnel issue, so isn’t it a question that can be asked as a shareholder?”
“Yes… yes, but it’s too unconventional…”
Ko In-gyu, CEO of Securities, barely answered, but this is no different from being caught again.
“Isn’t it unusual to be a managing director in your late 40s? It’s only the first time that it’s an unconventional greeting. green onion! case! Breaking a certain formality. Since it has already been broken, the appointment itself, ignoring seniority, has become a formality.”
President Ko In-gyu also became a mute after eating honey. I didn’t miss the opportunity and pushed one more time.
“Are there any Western companies that can be said to be global standards for advanced financial companies that are promoted in order of age or rank?”
Finance is a thoroughly western business domain. Isn’t it a business made by white-skinned guys from one to ten? There is no denying that they lead the way in this area.
“The condition for the IMF bailout is the opening of the financial market. Foreign capital is pouring in like a wave, so if you want to compete with, use, or absorb that capital, shouldn’t you do it in their own way? I thought of Jang Do-hyeong as the symbol of that, and I thought Sunyang was already ready to enter the global competition. But… Looking at the faces of the bosses, it must have been my own misunderstanding.”
I said it quietly and calmly, but it was regarded as a harsh criticism, so no one caught my eye.
“Looking at this, I know what you guys should do first. Don’t you think we should make a perfect report that leaves no doubts about Do-jun’s question? Response of foreign capital. yes?”
“Zh… I will prepare immediately.”
When CEO Yang Woo-chan managed to answer, I shook my head.
“no. I’ve prepared something for you. It would be better to look at it and discuss it together. Oh, if I’m uncomfortable, I can leave. All the executives of the financial company should gather together and fully discuss it, and only inform the final result.”
“You said you prepared?”
It’s true that I prepared it, but there’s no need to tell the truth. If you want to put more weight and pressure, you need to borrow authority.
“no. It was prepared by Miracle Investment’s US headquarters. It took several months to analyze Sunyang’s financial history. It will help.”
The bosses looked puzzled, but the grandfather showed curiosity.
“I wonder what it is about. Analyzing us in America?”
“Grandpa might be a bit difficult to understand.”
“what? Inum!”
How can a grandfather who only points out the big stems of company policies understand complex details?
“good night. Then tell these friends I don’t know, but these friends will know. Isn’t it?”
The grandfather, who had been watching with a smile until now, began to smile and glared at the president.
“Boss Yang.”
“huh?”
It was a bit funny to see him startled.
“You’re going to invest Sunyang Life’s funds here and there, but there are quite a few financial products from domestic banks, right?”
“That’s right.”
His embarrassed heart turned into a face that showed it. Since he is the CEO of a life insurance company, it is impossible for him to know each and every product the company has invested in.
Isn’t it an established fact that if I ask a question about an investment product, I will be embarrassed in front of the chairman?
“What is usually explained in the product is the expected rate of return on performance. It’s all about safety and such. But it doesn’t explain where my money goes when I invest in that financial product. And I don’t even know what the products I invested in are made of.”
“What do you mean? Investing in bonds, stocks, spot… right in the right place…”
Grandpa couldn’t wait to pretend he didn’t know.
“no. These days it’s a bit more complicated. Bonds are also made into commodities by bundling many different types. For example, mix bonds from mortgages in Florida with corporate bonds from British companies and Mexican government bonds.”
“It looks complicated, but isn’t it a bond anyway?”
“Then you won’t have a headache. no. Something else is mixed in here too. It even includes derivatives betting on the recovery rate of this bundle of bonds.”
“Do-joon. What the hell do you want to say? Are you saying that I am not qualified as a president because I do not know the details of such a product?”
As expected, Yang is quick-witted and quick-witted.
Fearing that a more detailed story would come out, he cut off my words and even yelled at me.
At this point, it’s good to save face and match the rhythm.
I’m the kind of person that I’ll have to keep seeing in the future, but I’m the only one who gets into trouble when something goes wrong over a trivial matter. The bosses in front of me still have quite a lot of power.
“no. How would you know all that? It’s the analyst who has to know exactly that. If the analyst who is in charge of investment does not know the details of the product, he is subject to dismissal, but the executive does not have to know.”
“Then what are the responsibilities of executives in your opinion? What do you think I should know?”
“You may have one or two responsibilities, but the most important is to accurately determine where the water that is filling up under your feet will stop?”
Yang is not the only one who is quick-witted. Everyone knows what I’m saying.
“It would be fortunate if the water was only up to the nose, but if the head is submerged in water, there is no way to survive. isn’t it? Lee Min-seop, president of Sunyang Card?”
President Lee Min-seop, who suddenly became a target, was shocked without knowing why. It is the card business that is on fire right now.
Isn’t it a bona fide business where cash pours in just by laying the board? Performance is also on the rise as if trying to reach the sky through the ceiling.
Cold water means risk, but I never imagined that I would be the target here.
“I didn’t even think that it was a warning to me… This is true. haha.”
His expression did not look good, as if he was very upset.
“The card business is basically a lending business. Wouldn’t the key to a loan be collection?”
“however?”
“A housewife with no income, a college student who does not even have a part-time job of 300, receives a monthly cash advance of 200 in the name of credit. Office workers with a certain income are busy trying to block credit cards right now. Ask the Sunyang Card staff right away. How many employees do you think don’t turn cards?”
CEO Lee Min-seop only bit his lip.
Habits are scary. I habitually swipe my card and habitually beat my salary.
Since there are many people around me who pay late fees and block cards, it has become a natural pattern. No one is afraid of debt.
Not only card users, but also credit card companies take it for granted.
“Is that a sign of rising water?”
Grandpa opened his mouth with a firm expression.
“It is the executives who make that judgment, aren’t they the management? Who knows if getting out of debt and swiping a credit card will fill up with water or become the lifeblood of the Korean economy?”
Grandpa’s expression is exactly that of Seo-jae.
Only the sound of breathing escaped from the hard and cold study.
The silence was broken by Grandpa.
Again, a warm wind began to blow in the study.
“How is it? What do you guys think?”
“yes?”
“I mean, do you still think that Do-joon has to go round and round around the company for a few years to learn practical skills?”
what is this again?
Aha, you mean you have to take the so-called management class.
“Can I speak to you for a moment?”
Asking for my understanding, the grandfather nodded.
Those who were hesitant to answer my grandfather’s question flinched when I glared at them. Since he said that he would educate his superiors who would take care of his own life and death from now on, it was a creak from the first step.
“It’s the first time I’ve heard that shareholders need to receive training from the company in question.”
“Ah…that’s…”
“It was suggested in consideration of the case of being deeply involved in management. If I had known you were thinking of separating ownership and management, I wouldn’t have said that.”
“That’s right. We expected that Do-joon and you would of course be at the forefront of management. That’s what I said, don’t get me wrong.”
Embarrassed bosses hurriedly waved their hands and stammered.
“no. It’s not a misunderstanding. I’ll sit on the bench and watch, and I’m thinking of playing as a player if necessary. Then, do you think we should go around the company departments and learn practical skills?”
He seemed a little taken aback by the bold question, but his skill was alive.
CEO Yang Woo-chan smiled and opened his mouth.
“Wouldn’t it be better to see it then and decide for yourself? Looking at it today, even if no one forced it, if necessary, they would go round and round first? haha.”
This is the most appropriate answer.
I leave it to me to judge or judge myself.
It is a word of encouragement and also an answer to avoid responsibility.
“Now, I think I know enough to make a good judgment about my grandson. Is there anything more I can say?”
Everyone closed their mouths and shook their heads lightly.
They made an irrational number to avoid being subject to a generational change, but now it is difficult to predict the future, so they cannot answer brightly.
The grandfather, who was watching this with frowns, waved his hand slightly.
“Stop going and look at things. If you leave the company for a long time, you will be the one to be anxious. How are you going?”
The four bosses all met my eyes as they left the study.
Judging from the way he shows a faint smile whenever that happens, he seems to be accepting of my relationship.
“Do-joon. Are you serious? It means putting a single managing director in the top position.”
When the two of them were left alone, the first question my grandfather posed was personnel issues.
“You have to see the interview and decide. However, the reputation of managing director Jang Do-hyung was good. As President Yang said, he said he had the qualities to shoulder the future of Sunyang.”
“Is that a rumor going around Yeouido?”
“yes.”
“Hmm……”
“Why is that?”
Grandpa said after a long sigh.
It was an ambiguous attitude whether it was a request or a request.
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