Business
Kelly Zong Fuli Returns to Helm of Wahaha: Legacy Succession and Management Reshuffle in China’s Beverage Titan
Kelly Zong Fuli, the heiress to Wahaha, has returned to lead the Chinese beverage titan following her unexpected resignation. Zong has now assumed the roles of legal representative, president, and general manager, all of which were previously held by her deceased father, the founder of Hangzhou Wahaha Group.
She currently serves as the legal representative, president, and general manager of the group, assuming all the roles previously held by her father at Wahaha. The company's annual sales in 2022 reached 51.2 billion yuan, equivalent to US$7.2 billion.
A state-owned enterprise (SOE), operated by the government of the Shangcheng district in Hangzhou city, where the company's main office is located, in Zhejiang province, continues to be the primary shareholder.
The restructuring of leadership and staff at Wahaha, a well-known beverage company in China, drew significant attention. This was primarily because it concerned the inheritance of wealth amongst the so-called second-generation affluent within China's privately-held corporations.
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