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Tatung chairman dismissed from post after 50 days

Tatung chairman dismissed from post after 50 days
focustaiwan.tw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from focustaiwan.tw Daily Mail and Mail on Sunday newspapers.

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Taiwan's Tatung Company chairman to be replaced after 50 days in office | Taiwan News

2020/12/22 20:52
Lin Wen-yuan
Lin Wen-yuan
(CNA photo)
TAIPEI (Taiwan News) Tatung Co. Chairman Lin Wen-yuan (林文淵) revealed during a press conference on Tuesday (Dec. 22) that it was his last day working for the company, saying that he was in shock when he received the letter of dismissal and that he had no idea about what he did to deserve it.
Lin, 68, was elected as the new chairman of the board in November after the Lin family lost control of management. The family had controlled Tatung, a long-standing home appliances company, since its founding 102 years ago.
Currently, the board is controlled by investors led by Shanyuan Group Chairman Wang Kuang-hsiang (王光祥). Lin said that last week, Wang notified him the company would change its legal representative due to a different time and space and that he expected a new chair would be elected as early as Wednesday. ....

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Reorganization of a Taiwanese Corporate Icon - Taiwan Business TOPICS

Taiwan Business TOPICS
Tatung is a household name in Taiwan and was a major player in the
country’s industrial rise. Yet this century-old enterprise has fallen on hard times, its property the only remaining asset of value. What caused Tatung’s downfall, and will it be able to rise again?
It only took a couple of hours for the Lin family to lose management control of Tatung, a company it had stewarded for over a century.
On the morning of October 21, a group of activist investors known as the “market faction” scored a decisive victory at an extraordinary shareholders meeting, where their members were elected to seven of the nine seats on the company’s board of directors. ....

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