Thinkers50, the global platform honoring management brainstorming, announced on Thursday its Management Hall of Fame now has a permanent home and exhibition.

China's home appliances giant Haier Group said it would act as host at its headquarters in Qingdao, Shandong province.

The Thinkers50 Hall of Fame honors the legacy of an elite group of thinkers whose work has had a profound and lasting influence on the world of business management.

Stuart Crainer, co-founder of Thinkers50, said he was very thankful to Haier's head Zhang Ruimin and the company for their hospitality and their support in establishing the base.

During a launch ceremony on Thursday, Zhang, CEO and chairman of Haier Group, said it was a great personal pleasure to host the Hall of Fame in Qingdao. "The management ideas of great thinkers can help companies to better identify their future orientation," he said. "We can gain a lot by learning from their forward-looking spirit and insightfulness."

To mark the occasion, two new management thinkers were inducted into the Hall of Fame. Peter Drucker and CK Prahalad both topped the Thinkers50 ranking in their lifetimes.

They are the first to join the Hall of Fame posthumously.

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