Corporate success through calculated risk

After completing the MBA, Yao went through a succession of positions up the ranks: product manager, global business development manager and global strategy manager. He also worked for Shell in China for one year and in Singapore for two years before being promoted to general manager of global supply chain at the Shell Criterion Refining Catalyst Co in 2013, the highest position held by an Asian immigrant within Shell.

To Yao, he could work at that position until retirement and call it a successful career. Little did he know, another opportunity soon would come knocking on his door.

Yao met Wang Jinshu, founder and chairman of Shandong Yuhuang Chemical Co, at another seminar organized by CAPST, where Yao was a speaker. By then Wang had spent more than two years looking for opportunities to develop a chemical business in Texas and Louisiana.

Impressed by Yao's experience and knowledge, Wang approached him, first asking him for advice, then asking him to run Yuhuang's $1.5 billion project of building a world-scale chemical complex, the largest green field foreign direct investment by a Chinese company in the US.

It was a difficult decision for Yao to make. "There were a lot of failed attempts to start up a Chinese company in the US. Should I trust some rich person from China? Should I give up my nice and comfortable position at Shell for an uncertain future? I had a lot to ponder," Yao said.

However, it was a once-in-a-lifetime opportunity and challenge: "I am given over a billion dollars to start a project from scratch. I felt I was the perfect candidate for the job. "

Eventually, Wang and Yao built a strong personal rapport, and Wang's complete trust and confidence in Yao won him over six months later.

Yao officially assumed the role CEO at Yuhuang Chemical Inc (YCI) in April 2014, and immediately began to tackle the tasks of a startup company - build a team and develop the project.

Yao selected Louisiana over Wang's choice of Texas as the plant location, which was announced in July 2014.

Some friends questioned Yao's sanity leaving a secure and high position at Shell for YCI, but Yao proved them wrong. Two years later, YCI has grown from zero to a company with 60 employees.

The initial front-end engineering design of the project has been completed, the first step toward the construction the plant.

Looking back, Yao believes it is important to have a career plan.

"One needs to think where you want to be a few years later, look at what it will take to reach there, and take action accordingly.

"If the next position you want requires four competencies, yet you are equipped with only one competency, you would only set yourself up for failure. If you have three, then you have a chance at it and you have room to grow," he said.

mayzhou@chinadailyusa.com