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Cao Dewang named Ernst & Young World Entrepreneur Of The Year 2009

(China Daily Fujian Bureau)
Updated: 2009-06-10 16:38

Cao Dewang, Chairman of Fuyao Glass Industry Group, has been named the Ernst & Young World Entrepreneur Of The Year 2009 at an awards ceremony held in Monte Carlo.

Cao Dewang, Chairman of Fuyao Glass Industry Group, has been named the Ernst & Young World Entrepreneur Of The Year 2009 at an awards ceremony held in Monte Carlo. Cao was picked from among the 43 entrepreneurs vying for the title, each of whom had already been named the Ernst & Young Entrepreneurof The Year in their home countries/regions.

Founded in 1987 inFuzhou, Fuyao Glass isChina’s leading automotive glass manufacturer, with more than half of the overall domestic market. The company is also an approved original equipment manufacturer for automakers based around the globe, including Audi,GM, Volvo and Ford.

J. Christer Ericsson, Chairman of Sweden’s JCE Group and Chairman of the independent judging panel said, “Mr. Cao’s success extends beyond auto glass – Fuyao has really boosted the Chinese automotive sector as a whole, both domestically and overseas. He is also a pioneer in corporate governance, from restructuring Fuyao as one of the first joint-stock limited companies inFujianprovince, to being one of the first companies inChinato introduce independent directors to its board. The competition was very tough this year, but it was these factors that led the judges to choose him.”

“To receive this award from among a group of such talented entrepreneurs is a great honor,” said Cao, “not only for me, but also for the 10,000 employees of Fuyao, and forChina, too.”

“Cao, who was born and raised in a poor family in ruralChina, is a true rags-to-riches story,” said Greg Ericksen, Ernst & Young’s Global Vice Chair for Strategic Growth Markets. “He is a great example of the new breed of entrepreneurs based in the emerging markets who are bursting onto the global stage.”

“Entrepreneurs achieve great things and are real drivers of the global economy,” said Jim Turley, Global Chairman and CEO of Ernst & Young. “Their vision, leadership, determination and sheer hard work inspire all of us at Ernst & Young. Throughout his long career, Cao has embodied the entrepreneurial spirit and is very worthy of the title Ernst & Young World Entrepreneur Of The Year 2009.”

David Sun, China Chairman and Country Managing Partner, Ernst & Young, said, “We are delighted that Mr. Cao, as a country winner for China, won the Ernst & Young World Entrepreneur Of The Year 2009 title. For Mr. Cao to emerge as the winner through such a competitive process, where more than 10,000 entrepreneurs took part in EOY in 2008, from which 43country winners directly vied for this year's World title, demonstrates how impressed the judges were with his achievements. Mr. Cao impresseduswith his leadership, focus and determination to become a global leader andwebelieve his winning represents a coming of age for Chinese entrepreneurs who are making their mark on the world stage."

Monica Wong, Chief Executive, Asia, HSBC Private Bank, says, HSBC Private Bank takes great pride in supporting the Ernst & Young Entrepreneur of the Year Awards inChina. Therefore, it is with great pleasure to learn that Mr. Cao Dewang, theChinacountry winner of 2008 has been awarded the Ernst & Young World Entrepreneur of the Year 2009.We wish to take this opportunity to congratulate Mr. Cao Dewang on receipt of this prestigious award. Of perhaps even greater significance is the fact that it underscores one of the biggest sources ofChina's increasing prominence in the world economic arena - the spirit of entrepreneurship.