After being released on bail of NT$60 million, Liu Tai-ying (劉泰英), chairman of China Development Financial Holding Corp (中華開發金控), will return to work and resume his chairmanship tomorrow at the nation's fourth-largest financial services company, acting chairwoman Diana Chen (陳敏薰) said yesterday.
"Upon returning to work [tomorrow], Liu will soon call for board meetings to discuss future management plans [including the possible reshuffle of chairmanship] as requested by the Ministry of Finance," Chen told reporters yesterday afternoon after a private meeting with Liu in the morning.
Chen added that the company gave its warmest welcome to Liu's return from his four-month-long detention.
On Friday, the ministry deman-ded that China Development decide whether it will replace Liu by June 20, should Liu fail to fill the post due to dragged-out trials or a possible detention in the near future -- a move which appears to be an attempt to pressure Liu into stepping down voluntarily.
In response, China Development said that it is slated to hold a unplanned board meeting on June 13 to hammer out a managerial plan.
Despite the fact that her temporary chairmanship ends the moment Liu returns to work, Chen -- a 33-year-old investment banking novice hand-picked by Liu to head China Development in his absence -- remains the most likely candidate to replace Liu.
When asked whether she is keen on competing for the vacancy left by Liu, Chen shrugged off the question by saying that "it should be a decision made by the company's board, not by me."
In response to market speculation that Benny Hu (胡定吾), currently chairman of China Development Industrial Asset Management Corp, may be competing head-to-head with her, Chen gave her approval of Hu's professionalism and said that the hostile relationship between the two portrayed by the media is not fair to Hu.
Chen said that she and Hu kept a close working relationship during her temporary chairwomanship since February and Hu has been a great help to her.
Chen, moreover, yesterday clarified that Yin Yen-liang's (
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