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As  young graduates bid farewell to their campuses, the liquor industry is also undergoing a heavyweight "graduation ceremony." Recently, the leaders of giants such as Yanghe, CR Snow, and Diageo have stepped down one after another, coupled with executive reshuffles at Shuijingfang, Jinzizi, and Budweiser APAC. This deep-level leadership overhaul, far beyond ordinary personnel changes, reflects the collective reshaping of new leadership capabilities in China's liquor industry amid structural adjustments and strategic transformations.

First, the baijiu sector is witnessing a profound moment of generational transition. The departures of veterans like Zhang Liandong and Yang Weiguo from Yanghe, the appointment of Wan Bo as the new general manager of Xijiu, and the sweeping changes in Shuijingfang's top management outline the contours of industry transformation. It is worth noting that the baijiu industry places great emphasis on accumulated experience and networks. However, under the pressure of stock competition, leaders now face unprecedented growth challenges and the dual task of breaking through existing models. The exit of iconic helmsmen, the retirement of founding figures, and the optimization of core executive teams are far more than simple handovers of power. They reveal an industry struggling to transition from scale expansion to meticulous cultivation, from individual-driven to systematic operations, and highlight the stringent demands for organizational vitality and strategic execution. The next critical step for the baijiu industry's upgrade is how to infuse innovative energy into established strategic frameworks under new leadership.

Second, the beer  industry is equally turbulent. The resignation of Hou Xiaohai from CR Snow has drawn industry-wide attention, but this wave of executive changes was foreshadowed: Budweiser APAC welcomed its first Chinese CEO, the chairman of Zhujiang Beer retired due to age, and Tsingtao Brewery completed its own leadership transition late last year. Each change in key positions is a subtle footnote to how giants are adapting to the new phase of "value deep cultivation" in the beer market. Currently, the battle for premiumization  has reached a fever pitch, with the domestic beer market shifting from fierce份額 (market share) competition to a critical stage of value-driven rivalry. The core of competition has long moved to brand value and profit depth. In the future, whoever can strike a precise balance between the breadth of channel downgrading and the depth of premium scenarios, break through homogenization with product innovation, and activate brand premiums with cultural resonance will emerge as the "leader of the pack" in the beer industry.

Finally, the strategic recalibration of international spirits giants carries even greater significance. Just days ago, the CEO of Diageo stepped down, triggering a deep recalibration of the global liquor giant's strategy in China—its operations here directly impact the rotation speed of its global growth engine. As "national trend)" disrupts  consumer logic, traditional channel structures are being pierced by instant retail and live-streaming e-commerce, and Gen Z consumers prioritize cultural identity over brand heritage, the scale of change is forcing the entire industry to reevaluate the problem-solving capabilities of its executives.

Thus, it is foreseeable that the dimensions of talent competition in the liquor industry will undergo a fundamental leap. New leaders must combine global vision with local wisdom, build resilient networks amid channel fragmentation and consumer stratification, and distill new aromas that transcend boundaries amid cultural clashes.

In summary, while the "graduation season" is inevitably tinged with nostalgia and melancholy, the conclusion of executive reshuffles marks the prologue to a new industrial era. As liquor bottles no longer solely contain aged memories, whether new leaders can cultivate branches and fruits suited to the new consumer ecosystem in meticulously tilled soil will determine whether this overhaul brings growing pains or renewal. After all, beneath the ripples of power transitions, undercurrents surge, and more figures and transformations are brewing.