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Sampo seeks fresh start with well-rounded boss

Sampo Co (聲寶), Taiwan's No.2 television maker, yesterday announced it has appointed a high-level executive with financial and consumer electronics backgrounds to be its new president, a position which has been vacant for a year.

The 57-year-old Afuna Chen (陳瑞勳) was approved in the board meeting yesterday to take the helm of the new position on Dec. 1.

Chairman Eric Chen (陳盛泉) has been doubling as the company's president after Ho Heng-chun (何恆春) resigned in October last year for personal reasons.

"Sampo will be relying on Afuna Chen's expertise and his financial and consumer electronics backgrounds for the company's restructuring and expansion," spokesperson Michael Chen (陳柏蒼) said at a press conference yesterday.

Afuna Chen's main tasks are to improve the performance of Sampo's affiliates, which include the money-losing Sampo Technology Inc (新寶科技) and Rechi Precision Co (瑞智精密). Rechi resumed trading on the Taiwan Stock Exchange last Wednesday after the company was banned from trading shares in May when management was suspected of embezzlement and accounting fraud.

Shares of Sampo were down 1.7 percent on the Taiwan Stock Exchange to close at NT$4.14 yesterday, while Rechi's shares fell 1.1 percent to NT$22.55.

In the longer term, Afuna Chen will help ensure a fairer arrangement of resources within the firm's various units, forming synergies with partners to focus on core strengths as well as relocating production facilities for greater utilization, Michael Chen said.

In this vein, Sampo is expected to announce on Friday a strategic alliance with a Taiwanese IT firm to explore markets in Europe. The synergy will, it is hoped, enhance Sampo's manufacturing, sales and channel capabilities in the region.

However, the company refused to disclose further details.

Prior to joining Sampo, Afuna Chen had 18 years of financial expertise, including 16 years with the China Development Industrial Bank (中華開發工業銀行), as well as working at Shinkong Financial Holding Co (新光金控), where he has been vice president since last year.

He started his career with Sony Taiwan, where he spent 14 years overseeing production and planning operations.

"I will initiate plans complying with Sampo's latest vision of focusing on brand, channel and services management," Afuna Chen told reporters following the announcement.

At yesterday's press conference, Sampo also announced its three-year warranty program for major product components.

Starting from today, consumers who purchase seven main home appliances from Sampo, such as liquid-crystal-display (LCD) televisions, refrigerators, air conditioners and washing machines, will be entitled to free maintenance and exchange privileges if components are found to be faulty.

These components include LCD and plasma TVs panels and compressors in air conditioners and refrigerators, the company said.
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