Chapter 998: Cathay Pacific changes hands

The temporary board of directors, and naturally the chairman sits at the top.

Then from top to bottom are the vice chairman, managing director and ordinary directors.

Further out, sitting on the periphery, are the attending executives and members of the supervisory board.

Wade Shijiahuai sat expressionlessly in the top position, but in fact he was under tremendous pressure, especially in such a solemn atmosphere. Seeing the smile on Weli's lips, his pressure increased further.

Whether or not he could win breathing space would depend on today!

Thinking this, he glanced at the independent directors, and his heart settled slightly when he thought about the work he had done yesterday.

'Chairman, the time is up! Can the meeting begin?'

At that moment, the secretary of the board of directors looked at his watch and asked Weid Shiyahu inquiringly.

Weid Shiyahu said expressionlessly, 'Yes.'

The secretary of the board of directors bowed slightly, then picked up the sign-in book and made a pre-meeting announcement according to past procedure: 'For this extraordinary board meeting, there should be 26 directors, 20 of whom are present. As six director seats are vacant, according to the proxy from Swire Pacific, the corresponding voting rights are entrusted to the chairman to hold on behalf of them... The number of participants meets the requirements of the company law and the articles of association...'

'I hereby declare the meeting open. The relevant directors are invited to raise and discuss the relevant matters for voting.'

As soon as the secretary of the board of directors had finished speaking, Wei Li launched a blatant attack. He looked directly at Wade Schiaway and said indifferently, 'Mr. Wade Schiaway, as chairman of the board, have you proposed any matters for discussion at this meeting?'

In an instant, the attention of the meeting attendees focused on Wade Schiaway at the head of the table. They all looked at him with an inexplicable expression, which made him feel very uncomfortable.

'No!'

Wade Shiyahui gave a cold glance at Wei Li and coldly spat out two words.

Wei Li laughed instead of getting angry, and said with a smile, 'Since you didn't, then I will!'

'Send the proposal materials to everyone!'

After saying this, Wei Li looked at the two people on the periphery, and the two people, who had been waiting for a long time, immediately each held a stack of materials and, contrary to normal practice, began distributing them from the periphery.

As soon as the person who received the material flipped through it, their face changed dramatically, regardless of whether they had guessed correctly or not, and this made the mood of Wade Schiaway, who was paying close attention, become increasingly heavy and tense.

Finally, when the material was finally handed to Weid Shijiahuai, he immediately opened the cover. The title of the proposal on the first page stood out, making him subconsciously clench his fists.

At this time, the voice of Weili rang out: 'During his tenure as chairman of the company, Mr. Weid Shijiahuai, the chairman of the company, has problems such as unclear strategy, unclear management, and inappropriate use of personnel, which have seriously affected the normal and healthy operation of the company. I propose to remove him from his current position as chairman of the board!'

'I disagree!'

Wade Shiyahui objected decisively, his voice very loud.

However, Weili could hear that he was feigning strength, and he scratched his ear, mocking, 'Mr. Wade Shiyahui, why speak so loudly, scaring everyone? Agree or disagree, just raise your hand to vote, don't be nervous.'

Wade Shiyahui snorted, not arguing with Weili.

Weili gave a faint smile, not taking it seriously.

He swept his gaze over everyone's faces and said in a calm voice, 'For my proposal, everyone will vote by show of hands. The secretary of the board of directors and the representative of the supervisory board will count the votes. Those in favour, raise your hands!'

After he finished speaking, Wally led the way by raising his hand.

Next, Baker Jerry, Song Bo and the other eleven directors in his faction all followed suit.

Then, the four independent directors raised their hands without looking away.

There were still three independent directors who hadn't raised their hands!

Everyone in the room looked at the three independent directors.

In particular, Wade Schiaway, subconsciously held his breath and focused his attention.

These three were the ones he and his uncle Norman Schiaway had been working on in the past few days.

They had clearly promised him that they would stand by his side at the extraordinary board meeting.

Now that the three of them had not raised their hands, Wade Schiaway felt a little... Wait!

Just as Werd Schiawai's heart had begun to relax, one of the three suddenly raised his hand slowly, causing Werd Schiawai's eyes to widen.

He couldn't help but call out the person's name: 'Jerome!'

It seemed that due to the sudden tension, Werd Schiawai's voice had become a little shrill, and the atmosphere in the meeting room had become even more tense.

The independent director named Jerome gave Weid Shiyawei an apologetic look, then turned his head away from him and kept his hand raised.

Seventeen votes!

Two people remain to vote!

Jerome's betrayal of his promise made Weid Shiyawei very nervous, and his gaze at the other two independent directors also changed.

When he saw that one of them seemed to want to raise his hand as well, he couldn't sit still and immediately announced, 'Seventeen votes in favour, less than two-thirds of the total votes, the proposal is not passed!'

Welly was amused by the poor performance of Wade Schiaway, and he strongly criticized him, saying, 'Wade Schiaway, please respect the other directors. Directors Elvis and Andrew have not yet voted, so what's your hurry?'

After saying this, Welly looked at Directors Elvis and Andrew and said meaningfully, 'Directors Elvis and Andrew, everyone is waiting for you. If we delay any longer, Wade Schiaway will again deprive you of your voting rights!'

Wei Li emphasised the word 'deprive' a little, which sounded very warning-like to Elvis and Andrew.

Thinking about the materials they had received separately this morning, they finally chose to bow their heads and admit defeat.

Seeing that the two of them didn't even look at him, Wei De Shi Yawei raised his hand one after the other, his eyes bloodshot and his voice rasping as he shouted:

'Elvis!'

'Andrew!'

'You're deceiving me!'

Elvis looked helpless. He had a million reasons in his heart, but he couldn't explain them to anyone, because Wally had caught him in the act!

Andrew, on the other hand, was actually relieved. He sat silently in his seat, ignoring Wally Schiavoni completely.

Wally gave the two men a satisfied look, then looked at the secretary of the board of directors and the representative of the supervisory board and commanded, 'Read out the votes!'

After a brief calculation, the secretary of the board of directors handed the result to the representative of the supervisory board.

The representative of the supervisory board stood up and announced the voting result: 'The voting result on the proposal to remove the current chairman from office is as follows: the total number of votes is 27, with 19 votes in favour, 8 votes against and zero abstentions!'

'The approval rate is 70.37%, which exceeds two-thirds, so the proposal is passed!'

After the result was announced, there was a buzzing sound in the entire venue.

Wade Shiyahuai had really been kicked out of his position as chairman!

This made the company executives present feel an unreal sense of unreality, and unknowingly, their awe for Wei Er grew even stronger.

From now on, Cathay Pacific Airways has completely changed!

"Mr. Wei De Shi Yahuai, that position is no longer yours, come down!'

'Sit there!'

Wei Er pointed to the only empty seat at the other end of the table and said to Wei De Shi Yahuai.

He had long prepared for this empty seat, just for this moment!

With his chest rising and falling rapidly, Wei De Shi Yahuai seemed not to have heard what Wei Li had said, and stubbornly refused to move from the top seat.

Wei Li said mockingly, 'Mr. Wei De Shi Yahuai, if you think the Shi Yahuai family still has any face left, then you should feel free to get up from your seat.'

'Hmph!'

Upon hearing the name of his family, Wei De Shi Yahuai's expression twitched slightly, and he gave Wei Li a deep look before giving a cold snort and getting up from his seat with a gloomy face, walking over to the empty seat and sitting down.

Welly nodded with satisfaction and then gave a wink to one person.

That person immediately said, 'Now that the position of chairman of the company is vacant, in order for the company to achieve better and faster development, we urgently need a chairman with strategic vision and superb management skills. I propose that we conduct a new election for chairman of the board of directors, and I nominate Mr. Welly!'

'Mr. Welly is indeed very suitable, I agree!'

'...'

'Now we will vote on the second proposal. Those in favour, please raise your hands!'

Nineteen hands went up as soon as the secretary of the board spoke.

No one was dragging their feet this time!

Even Elvis and Andrew raised their hands more quickly and decisively than before!

After the secretary of the board had counted the votes, the representative of the supervisory board stood up and announced the result: 'The result of the vote on the proposal to elect Mr. Wery as chairman of the board is as follows: 26 votes in total, 19 in favour, 7 against, and 0 abstentions!'

'The approval rate is 73.07%, which is more than two-thirds, so the proposal is passed!'

'Clap, clap...'

Amidst loud applause, Wei Li got up, smiled broadly, bowed to thank everyone, then strode up to the head of the table and took his seat as chairman.

At this point, it no longer mattered what Wei De Shi Yao Huai was doing.

There were still some people who secretly observed the changes in his expression, as if they were watching a joke.

Wei Li, sitting in the position of chairman, cleared his throat and said with a strong middle voice, 'Thank you all for electing me as chairman. I will do my best... First, I will be diligent and responsible, always putting the company's development first... Second, we will unite as one...'

Wei Li spoke fluently for hundreds of words, and it was obvious that he had long prepared this speech for his inauguration as the new chairman.

'Clap, clap, clap...'

There was a burst of applause.

Wei Li's face straightened and he said in a serious tone, 'Although I have just taken over the position of chairman of the company, I have been paying close attention to the company's situation for a long time. Although Cathay Pacific is the only civil aviation company in Hong Kong, the company's growth rate has not been able to keep up with the development of Hong Kong. The current situation, such as insufficient aircraft and routes, has seriously restricted Cathay Pacific's international strategy of becoming a global airline.'

'The company's expansion is imminent!'

'In order to develop better, the company urgently needs a large sum of money, which will be used to purchase and replace aircraft, open new routes, and expand the company's staff...'

'In order not to burden the company with even more debt, I propose raising a sum of money for the company in the form of a private placement of shares. Please refer to the proposal for details and then vote!'