Recently, the executive changes of two well-known home furnishing companies, Pinano and Rose Island, have added another new example to the trend of personnel changes in the industry. The first quarter of 2025 has just passed, and the turnover of executives in home furnishing companies is still ongoing.
20 companies, 40+executive changes
Comprehensive replacement of core management team
The end of the first quarter means that it is a critical point for conducting quarterly summaries. In addition to focusing on performance reports, the closely related changes in senior management of enterprises are also worth paying attention to.
According to incomplete statistics, in the first quarter, more than 40 home furnishing executives from over 20 companies including Piano, Red Star Macalline, and Guangtian have undergone job changes, including core management positions such as chairman, president, and vice general manager!
Among these over 20 companies, companies such as Red Star Macalline, Beixin Building Materials, and Guangtian Group are particularly eye-catching. The fluctuation range of enterprise personnel is relatively large, almost involving a comprehensive replacement of the entire management team, which can be called a major overhaul. Among them, companies such as Red Star Macalline, Funana Home, Beijian New Materials, and Baoying Co., Ltd. have undergone a transition from old to new at the chairman level.
Comparing the changes in household executives since 2020, it is found that the changes have been more frequent in the past two to three years, with 2022 being particularly prominent.
Comparing the data of the first quarter of 2025 with the data of the previous five years shows a significant change. Compared with the same period in 2024, the growth rate is as high as 33%, and the number of changes is almost equal to the total number of changes in the first half of 2024.
It is not difficult to see from the above data that the trend of executive turnover in the home furnishing industry is becoming increasingly intense. According to industry insiders, in the next three years, as the home furnishing industry undergoes profound changes and reshuffling intensifies, this wave of personnel changes will become even more intense.
Executive changes in the home furnishing industry:
Strain and adjustment in oscillation
Wang Biao, the president of Kefan Home, once pointed out that the core of the trend of executive changes in the home industry is not performance pressure but value mismatch. The reasons behind such frequent high-level changes are complex and multifaceted, mainly including the following aspects:
→ Strategic transformation promotion
The current market growth rate is gradually slowing down, and industry competition is becoming increasingly fierce. In order to achieve transformation breakthroughs and enhance their competitiveness, enterprises often regard executive turnover as an important means to drive their own strategic adjustments and seek new development paths.
Taking Golden Mantis as an example, this executive change involves the key position of General Manager of the Marketing Center. Given the core position of the Marketing Center in market expansion, brand promotion, and customer retention, the change in its leadership reflects the trend of traditional enterprises shifting from extensive expansion models to refined management models.
Driven by performance orientation
Some companies that are in a loss making state hope to leverage the significant turnover of senior personnel, introduce new management concepts and operational strategies, and strive to achieve breakthroughs in difficult situations, reversing the unfavorable situation of declining performance.
Performance pressure leading to executive turnover is not uncommon in the home furnishing industry. Take Baoying Co., Ltd. as an example. Its 2024 performance forecast shows that the net profit attributable to shareholders of the listed company is expected to be a loss of 633 million to 830 million yuan. Even though the loss has been reduced compared to the same period last year before the restructuring, the pressure should not be underestimated. Adjusting the executive team can be a self rescue method that is expected to inject new momentum into the company.
→ Intergenerational succession of power
The phenomenon of second-generation or new generation succession in enterprises is gradually becoming common, and the trend of younger management is evident. For example, Guo Yulin, born in the 1990s, took over as the chairman of the supervisory board of Piano; Li Yupeng, born in 1985, took over as the chairman of Red Star Macalline; Zhu Wenwen, a new generation executive born in the 1980s, took over as Vice General Manager of Golden Mantis and leveraged a comprehensive reform campaign with the rejuvenation of the management team as the pivot.
→ Impact of Capital Operations
The intervention of capital operation is also a key driving factor for enterprise restructuring and personnel turnover. Taking Guangtian Group as an example, it was previously mired in bankruptcy reorganization difficulties, but later ushered in a major turning point of state-owned assets investing. With the support and promotion of state-owned assets, Guangtian Group has carried out a series of reforms and reorganizations, during which the company's executive team has also undergone comprehensive adjustments.
Conclusion:
The wave of executive turnover is like a mirror, reflecting the pains of the industry's transition from savage growth to rational return. In the current situation of performance pressure, it has become one of the most commonly used means for home furnishing enterprises to optimize resource allocation, respond to performance crises and development challenges. However, it is not a panacea that can be tested with a hundred different methods. It is too idealistic to rely on changing executives to 'reverse fate'.
In this transformation, enterprises need to vigorously explore outstanding "generals' talents" with the heart of "Bo Le", construct management strategies that are suitable for them, and create a broad space for their application. However, the most crucial thing is to promote the organic combination of timing, location, and people, forming a strong synergy, in order to seize the opportunity and open up a new situation for the development of the enterprise.
