Fortune Names Haier Group Chairman & CEO Zhang Ruimin Among "The World's 50 Greatest Leaders"

Fortune Names Haier Group Chairman & CEO Zhang Ruimin Among "The World's 50
Greatest Leaders"

Haier Group Founder Ranks 22nd, Applauded for Management Innovation

QINGDAO, China, March 21, 2014 (GLOBE NEWSWIRE) -- Haier, the world's leading
home appliance provider, today announced that the company's Chairman and CEO,
Zhang Ruimin, has been named in Fortune magazine's list of the "The World's 50
Greatest Leaders" published earlier today.

Mr. Zhang ranks 22^nd on the ranking of leading figures from business,
politics and society who Fortune credits with "energizing their followers and
making the world better." Other honorees include Pope Francis, Angela Merkel,
and Warren Buffet.

In its citation, Fortune credited Zhang Ruimin's "radical management
innovations" with transforming Haier into the world's largest appliance brand,
noting that Zhang "groups employees into small, self-managing teams that
choose their own managers, compete for internal talent, and can earn big

Under Zhang Ruimin's leadership Haier has created a management system that
puts customer needs at the heart of the product development process. Haier
encourages staff to track evolving market trends and form autonomous project
teams to address emerging opportunities. Each new project or market
opportunity leads to the formation of a dedicated small team of workers
functioning as an independent company, what Haier calls a ZZJYT. The system is
designed to foster internal entrepreneurship and innovation, and to make Haier
a more efficient and nimble company.


Haier is the world's leading home appliance provider, with global revenues of
US$29.5 billion and profit of US$1.76 billion in 2013. Its mission is to
create innovative home appliances that anticipate the fast-changing needs of
consumers in more than 100 countries around the globe. Euromonitor
International, a world leader in strategy research for consumer markets, has
named Haier the number one brand of major appliances in the world every year
for the last five years. In 2012 the Boston Consulting Group named Haier one
of the ten most innovative companies in the world.

Haier Electronics Group Co., Ltd. a subsidiary of Haier Group, is listed on
the Hong Kong Stock Exchange (HKG: 1169). Qingdao Haier Co., also a subsidiary
of Haier Group, is listed on the Shanghai Stock Exchange (SHA: 600690). For
more information, please visit

         Yan Shuang
         Haier Branding and Communications
         +86-532-8893-1242 or
         Martin Reidy
         FTI Consulting
         +86-136-9927-0471 or

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