Hoyer awarded Business Person of the Year 2023

Hoyer Asia’s Strategy in Achieving the Result

Hoyer is honored to be recognised among notable nominees within the Danish companies in China, alongside respected executives and professionals from Micro Matic, ISS Hong Kong, and Ovodan. At Hoyer, the approach is guided by a commitment to sales growth, diversified market penetration, and localisation. While Hoyer’s recognition sets us apart in its own way, we see the award as a recognition from peers, where large companies often dominate such awards.

Michael Andersen stated: “What we have achieved in growing the company in various segments, as part of the total objective of the company strategy, has been a process over the last three to four years. It is built on the foundation of teamwork: We introduced opportunities for local managers to grow their careers, we have strengthened collaboration with other departments, and we have established a matrix setup. This ensures that each team is well-suited for the tasks assigned to them, which has been the important part of the development of the last few years.” 

General Manager of Hoyer Asia, Mads Texel Jakobsen added: “We have also put a lot of focus in sharing information across teams and departments; we have held frequent meetings and shared information that has helped us to learn from each other, which has also helped us to get success with our growth strategy here in Asia. - And it is also related to open culture which is one of the keys to our successes.”

Michael Andersen added: “I think the key factor has been communication; it is very important for managers at all levels to nurture the team and communicate well within the department, across borders and across the company.”

Reflecting on the journey, . As a mid-sized company in the electric motors industry, Hoyer understands the challenges and appreciates the strength that comes from team-driven efforts. It is through this collective dedication that Hoyer has achieved significant sales growth in the past years, underscoring the impact of the collaborative approach for Hoyer’s success.

Uncovering the Award's History

The "Business Person of the Year" award is a proud tradition within the Danish Chamber of Commerce in China, with annual celebrations dating back to 2007. This tradition carries immense significance within the Danish business community in China, and symbolizes excellence, dedication, and notable achievements over the years.

Adding to its prestige is the presentation of the "Vilhelm Award Statuette," named after Danish entrepreneur Vilhelm Meyer. Residing and working in Shanghai from 1900 to 1935, Meyer's legacy is encapsulated in this statuette. As the award winner receives the Vilhelm Award Statuette, it not only signifies contemporary success, but also reflects a continuation of the enduring legacy of Danish companies and those who have contributed significantly to the business landscape in China and the Asia region.

A Danish way of working

In embracing this achievement of sales growth and sales diversification into niche-market segments, Hoyer recognises that the journey has been guided by a commitment to the Danish way of working with expertise, teamwork, and a distinctive global but local approach of doing business in China and in Asia. This recognition reinforces Hoyer’s position as a notable player in the electric motors niche-markets, and Hoyer is looking forward to building on this momentum with gratitude and humility in the years to come.