Haier Group CEO Zhang Ruimin Honored with 'Ideas to Practice' Award and Ranked among Top 50 Global Management Thinkers at Prestigious Thinkers50 Awards

Nov 11, 2015, 08:46 ET from Haier

BEIJING, Nov. 11, 2015 /PRNewswire/ -- Zhang Ruimin, CEO and Chairman of the Board of Directors of Haier Group, was this week invited to attend the Thinkers50 Award Gala in London. At the ceremony, he received the prestigious 'Ideas into Practice' award and was selected into the 2015 Thinkers50 ranking of the top 50 global management thinkers at the same time. This makes Zhang Ruimin the only Chinese entrepreneur to have won two Thinkers50 honors.

Thinkers50 was founded in 2001 and is the premier ranking of its kind, admired globally for its objectivity and market intelligence. For this reason, its rankings list that is released every two years is known as the "Oscars of Management Thinking". More than 20,000 people selected their favorite thinker for this year's awards and nearly 30 countries were represented by those responsible for ranking the best global management ideas. Zhang Ruimin is the only Chinese thinker to be selected in the esteemed 2015 rankings, recognition of his innovative management methods that were described by Thinkers50 as combining the best Chinese thinking with the best Western practices.

Zhang Ruimin was the first ever recipient of the new and prestigious 'Ideas into Practice' award, which was granted as acknowledgement of his novel business philosophies and the extraordinary achievements Haier has achieved over the last 30 years. The award recognized Zhang's management practices as having fuelled Haier's growth from a small factory in the 1980s into its position today as the world's leading home appliance provider and 'one of the world's most innovative companies'.

Thinkers50 gave tribute to the fact that Zhang is continuing to forge novel management practices to adapt Haier in response to the disruptive nature of technology and the Internet. The company is transforming from a traditional manufacturing company to a platform and services-based company in which teams of employees operating as their own CEOs are being empowered to work directly with consumers and utilize resources from all around the world to explore their entrepreneurial visions. Thinkers50 also praised Haier's application of a distinctively Chinese and progressive business philosophy when granting the award, showing the increasing importance and acceptance in the western world of novel Chinese management practices, for which Zhang Ruimin is paving the way.

Thinkers50 co-founder Des Dearlove, said "Management thinking is no longer the preserve of the West. The last few rankings saw an Asian invasion. In 2015, we are seeing the arrival of Chinese management thinkers on the world stage."

Zhang Ruimin said, "This award gives me lots of courage and confidence. There is no final answer in management, only questions. I would like to take this opportunity to give my appreciation to all of Haier's employees. It is only through their efforts that we have accomplished the achievements that we have made to date."

About Haier Group

Haier is the world's leading home appliance provider, with global revenues amounting to US$ 32.6 billion and profits of US$ 2.40 billion in 2014. Its mission is to create innovative home appliances that anticipate the fast-changing needs of consumers all around the world. Haier has been named the number one global home appliance brand every year for the last six years by Euromonitor International, a world leader in strategy research for consumer markets, and in 2012 the Boston Consulting Group named Haier one of the ten most innovative companies in the world as well as the most innovative company in the consumer and retail category. Its global headquarters are based in the Chinese city of Qingdao and it also has regional headquarters in both Paris and New York to serve its clients in Europe and America. Haier also has 5 R&D centers, 66 trading companies and 21 industrial parks worldwide.

Haier Electronics Group Co., Ltd. a subsidiary of the Haier Group, is listed on the Hong Kong Stock Exchange (HKG: 1169). By drawing on its competitive strengths in marketing, the Internet, logistics and services, Haier Electronics Group aims to provide an integrated and unrivalled consumer experience. Qingdao Haier Co., also a subsidiary of Haier Group, is listed on the Shanghai Stock Exchange (SHA: 600690) and focuses on driving innovation in smart home technologies.

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SOURCE Haier