Ren Zhengfei says that no relative possesses all the qualities necessary to lead his company's high-flying business.
Telecom equipment maker Huawei Technologies won't be a family-run business for long.
In a letter sent to employees on Sunday and obtained by Reuters, Huawei CEO and founder Ren Zhengfei said that no one in his family will succeed him because he doesn't believe any relatives have all of the personal qualities necessary to effectively lead the company.
"Huawei's successor should not only have vision, character and ambition, like what we've said before, but also a good global perspective and the acumen to drive the business," Ren wrote, according to Reuters. "My family members do not possess these qualities. Thus, we will never be in the running of the successor race."
That might be a hard pill to swallow for Ren's own children -- both his son and daughter work at Huawei.
Ren has been saying that he wants to step down as CEO sooner rather than later. To help with that transition, his company has created a rotating CEO cycle, in which three of his executives are getting six-month stints to lead the company. It is believed that whichever one of those three does the best job will take over Huawei.