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Chunghwa Telecom head says he won't take bonus

Chunghwa Telecom Co (中華電信) chairman Hochen Tan (賀陳旦) said yesterday that he will not accept an extra but controversial bonus, and instead leave it in the company's coffers so that all Chunghwa Telecom staff members can share it.

Hochen said at the Legislative Yuan that he will not take home a single penny of a company bonus that was controversial.

He made the remarks after he was accused by opposition Chinese Nationalist Party (KMT) Legislator Huang Chao-shun (黃昭順) of maneuvering to receive extra pay from Chunghwa Telecom by having the company's board of directors pass a resolution last month making Hochen Chunghwa Telecom's chief executive officer, in addition to chairman.

According to company regulations, Hochen is now entitled to a 5 percent share of Chunghwa Telecom's pretax profits annually as CEO, under a bonus system designed to boost company morale.

Answering a question by ruling Democratic Progressive Party Legislator Huang Wei-che (黃偉哲) on why the Chunghwa Telecom board of directors passed such a resolution to make the chairman the CEO as well, Hochen said the decision was made in line with US regulations, since Chunghwa Telecom is now a US-listed company.

The legislators bickered about Hochen's new dual post after China Steel Corp (CSC, 中鋼) chairman and CEO Lin Wen-yuan (林文淵) was questioned by lawmakers on Tuesday as to whether Lin received salaries and bonuses that might exceed NT$50 million last year, which is much higher than most senior officials' compensation.

Premier Frank Hsieh (謝長廷) promised Tuesday that he will see to it that compensation packages for executives of state-run companies appointed by the administration are reviewed.

Minister of Economic Affairs Ho Mei-yueh (何美玥) suggested yesterday that the Ministry of Finance review the CSC compensation system, since CSC has been privatized and its shares that are still held by the government are now under the jurisdiction of the Ministry of Finance.
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