Stressing that privatization of state-run enterprises is an international trend, Ray Dawn (
"I don't think the government should run any business. The state should exit from the market so that [state-owned] companies can better compete with their private rivals," he said at a ceremony during which he took over leadership of the company from Morgan Hwang (
Hwang will assume the chairmanship of the state-owned Taiwan Power Co (Taipower, 台電) next week.
During his 989-day tenure at TTL, Hwang injected his marketing expertise into the century-old company and successfully led it to retake its market share at a time when foreign imports were threatening TTL's leading position.
TTL posted NT$8.65 billion (US$280 million) in pre-tax income last year, up from NT$8.54 billion in 2003.
However, the privatization process has been thwarted by union objections.
The company's labor union is pleading with lawmakers to ensure that the 7,000 employees will be able to keep their jobs.
According to the Ministry of Finance's timetable, TTL should have been privatized last year.
Dawn, 47, a former director of Kaohsiung City's Bureau of Finance, said that the key to privatization was engaging in comprehensive communication with labor representatives, in addition ot devising complementary measures to offset the possible impact on employees.
"The interests of our customers, employees and shareholders must be safeguarded during the privatization process," he said.
In response to demands from anti-tobacco groups that TTL rename its leading cigarette brand, "Long Life" (
As Long Life is a well-known brand name that has been popular for more than a decade, further discussion is needed to decide whether it should be given up, Dawn said.
Chan Shih-chu (
Sweeping policy changes under US Secretary of Health and Human Services Robert F. Kennedy Jr are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes in inoculation schedules and recommendations, investors and executives said. The administration of US President Donald Trump has in the past year upended vaccine recommendations, with the country last month ending its longstanding guidance that all children receive inoculations against flu, hepatitis A and other diseases. The unprecedented changes have led to diminished vaccine usage, hurt the investment case for some biotechs, and created a drag that would likely dent revenues and
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