Chapter 344 Finding a Successor for Jardines Matheson
Lin Haoran had truly made a fortune this time.
The total amount he invested into Jardines Matheson was roughly around HKD 3 billion.
However, based on property values alone, Jardines Matheson was now worth over HKD 20 billion.
If that wasn't an insane profit, what was?
No wonder so many future Chinese tycoons would covet Jardines Matheson.
Such a premium real estate company—who wouldn't want it?
Of course, if Jardines Matheson continued its blind expansion, it carried considerable risks.
In another world, by September 1982 when Hong Kong's real estate crisis erupted, Jardines Matheson had already racked up HKD 15 billion in debt.
And that debt would, naturally, have to be repaid.
During a property market crash, no matter how many assets a company held, liquidating them quickly was extremely difficult, and doing so would mean massive losses.
Even bloodletting sales wouldn't prevent financial collapse.
This was the crisis Jardines Matheson faced.
Had the market not recovered within two years, even the restored Keswick family leadership might have been unable to save Jardines Matheson from bankruptcy.
Now, Lin Haoran held Jardines Matheson's fate in his hands.
Naturally, he would not let the same mistakes happen.
Looking at the project plans in front of him, Lin Haoran knew it was time to find a capable leader to manage Jardines Matheson.
The company was simply too massive, even larger than Wanqing Group.
Lin Haoran, a self-professed novice in corporate management, had no idea where to begin personally.
He knew he needed to stop reckless expansion, but he also needed a true manager—someone who could steer Jardines Matheson properly, while Lin Haoran himself remained in the background overseeing the big picture.
But who could take on the role of Executive Director and General Manager?
Among those he was familiar with, perhaps Li Jiacheng's future generals were the best options.
In particular, Huo Jianning seemed promising, but he was still too young—better suited to being an assistant rather than a general manager at this stage.
If not Huo Jianning, then there was another candidate: Ma Shiming, the future head of Hutchison Whampoa.
In his past life, Lin Haoran had read a book titled The Battlefield Diaries of Ma Shiming – From Mercenary to Business Giant.
It was Ma Shiming's autobiography and had deeply impressed Lin Haoran.
Ma Shiming was a man of wisdom, courage, resilience, and relentless pursuit of self-improvement.
His achievements in business were owed to his extraordinary personal qualities.
Even Ren Zhengfei of Huawei once called Ma Shiming his "life mentor."
If Ma Shiming could manage Jardines Matheson and Jardines Matheson, Lin Haoran would be at complete ease.
However, the biggest problem was that Lin Haoran didn't know Ma Shiming's current whereabouts.
He had recently left Jardines Matheson and was said to be founding Davenham Investments in partnership with the Rothschild family.
Still, contacting him shouldn't be difficult.
After all, he had only recently left Jardines Matheson, and his files should still be there.
Aside from Ma Shiming, Lin Haoran had another candidate in mind:
Mr. John Marden, the former head of Hutchison Whampoa.
John Marden's skills were undeniable; he was famously known as a "company doctor," capable of turning around even the most loss-ridden enterprises.
Under his leadership, Hutchison Whampoa had gone from near bankruptcy to profitability in just two or three years.
Since Jardines Matheson and Jardines Matheson were of similar scale, if John Marden could handle Hutchison Whampoa, he could certainly manage Jardines Matheson.
Thus, John Marden was clearly another excellent candidate.
Why had Li Jiacheng later removed John Marden from Hutchison Whampoa?
Lin Haoran thought there were three main reasons:
Differences in management philosophy: John Marden focused on corporate restructuring and turnaround, while Li Jiacheng prioritized long-term strategic growth, leading to inevitable conflicts.Changes in power structure: As Li Jiacheng increased his shareholding, he needed full control to implement his vision.Personal grievances and workplace rivalry: After losing control of Hutchison Whampoa, John Marden publicly criticized Li Jiacheng, straining their relationship beyond repair.
Lin Haoran understood all this, but it didn't affect his plans.
He didn't need John Marden for the long term—only for two or three years, until a suitable replacement emerged.
Moreover, with Jardines Matheson now heavily engaged in numerous development projects, a capable "company doctor" like John Marden could handle these assets appropriately.
Projects that could be completed and generate profit by 1982 should be kept.
Projects requiring two to three years for completion should be sold off promptly to avoid being caught in the 1982 real estate crash.
Maintaining cash flow would be critical.
The lower the debt, the better.
Ideally, Lin Haoran didn't want Jardines Matheson to carry any debt when the crisis hit.
Choosing between Ma Shiming and John Marden was tough.
Both were outstanding.
As for why he wasn't considering Chinese managers?
The reason was simple: there were very few outstanding Chinese professional managers at this time.
Figures like Chen Shoulin, who could gain the trust of British consortiums, were exceedingly rare.
And Chen Shoulin was needed to continue running Hongkong Electric.
Thus, it was still best to rely on foreign managers for Jardines Matheson and Jardines Matheson for the next few years.
Later, once he developed a pool of capable Chinese executives, he could gradually replace the foreigners.
So, who should he choose first?
Leaning back in his chair, Lin Haoran pondered deeply.
John Marden's flaw was obvious—his ambition for control.
Although Lin Haoran didn't see that as a huge problem, it was something to note.
Ma Shiming, however, was simply too outstanding.
If he could recruit Ma Shiming, that would be the best outcome.
Thus, his plan was set:
First, try to recruit Ma Shiming.
If that failed, then turn to John Marden.
Finding Ma Shiming wouldn't be difficult.
Jardines Matheson still had all his records.
Tracking him down would be easy.
Just then, Lin Haoran's stomach growled.
He glanced at his watch—it was almost 7 p.m.
Outside, the lights of Central and Tsim Sha Tsui had already begun to twinkle.
"Time to head home," Lin Haoran muttered to himself.
Anyway, Jardines Matheson and Jardines Matheson were now firmly in his hands.
There was no rush.
Stretching his arms, Lin Haoran stood up to grab his briefcase and head back to his villa on Shixun Road.
At that moment, there was a knock at the door.
Opening it, he saw Niu Bijian standing there.
"Boss, how about we have dinner together? It'll give us a good chance to talk," Niu Bijian said with a smile.
If Lin Haoran hadn't seen his loyalty score still hovering at 62, he might have believed Niu Bijian had fully surrendered.
Still, Lin Haoran remained cautious.
But he nodded and replied,
"Sure, let's have dinner and discuss my plans for Jardines Matheson and Jardines Matheson."
It didn't matter where they ate.
Having just completed his takeover, it was indeed a good time to communicate and coordinate strategies with Niu Bijian.
Especially since, for now, Lin Haoran still needed him at Jardines Matheson.
At least for the immediate future.
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