Thomas Wu apologizes for family spat

Bowing deeply, Taishin Financial Holding Co (台新金控) chairman Thomas Wu (吳東亮), yesterday made a public apology to the financial service company's shareholders for the possible negative repercussions a dispute among the members of his family might have.

"I hope such a family squabble between siblings will never happen again," Wu told reporters yesterday morning after a reshuffle of Taishin's seven-member board.

After securing support from six board members, Wu was re-elected as company chairman, in accordance with an agreement between him and his younger brother Eric Wu (吳東昇).

According to the agreement, inked late last month, Thomas Wu will relinquish his chairmanship at Shinkong Synthetic Fibers Corp (新光人纖) -- a subsidiary of the Shinkong Group (新光集團) -- to Eric Wu. In return, the younger Wu and their mother pledged to support Thomas Wu's bid in the leadership reshuffle which was resolved yesterday.

Expressing his thanks to shareholders for their support at a shareholder meeting yesterday, Thomas Wu announced that Taishin has reported its highest third-quarter earnings per share of NT$4.76 this year.

He vowed to continue the positive earnings trend in future.

Meanwhile, the younger Wu is expected to take up the chairmanship at Shinkong Synthetic Fibers in the upcoming board reshuffle, which is slated for Dec. 20.