EVA to put vice president in the lead role next year

EVA Airways Corp (長榮航空) named Vice President Steve Lin (林寶水) to replace Kitty Yen (嚴若琪) as president, less than two weeks after Taiwan's second-largest airline raised its 2002 profit forecast for a second time this year.

Lin will take over on Jan. 1, said Eric Lin (林司忠), a public relations specialist for EVA, adding the move was part of "regular management changes."

Yen, who joined the Evergreen Group (長榮集團), the owner of the airline, in 1975, replaced Daniel Wu (吳景明) on Jan. 1 this year.

The first woman to hold the top job at the carrier, Yen was appointed to steer the company to profitability after a NT$3.2 billion (US$91 million) loss last year. Last month, Eva raised its 2002 profit forecast 56 percent to NT$2.5 billion after the cutting costs and expanding routes to Japan and Hong Kong.

"Given the company's return to profitability this year, we feel the change is a little strange," said Peggy Hsiung, who helps manage NT$70 billion at Polaris Investment Trust Co (寶來投信). "Her job was to turn the company around."

Eva shares fell US$0.35, or 2.4 percent, to NT$14.55.

Yen will be made chairwoman of Evergreen Sky Catering Corp (長榮空廚), which supplies meals for Eva Airways flights. Yen was president of Evergreen Sky before her move to Eva.

Lin, 52, joined the Evergreen Group in 1976 and held management positions at Evergreen Marine Corp (長榮海運) and Evergreen International Storage & Transport Corp (長榮航勤). Evergreen Marine runs the world's fourth-largest shipping line.

"Evergreen may be preparing for the next phase, which may be direct links," Hsiung said, referring to the management changes.