The Cabinet will appoint a different person as chairman of China Steel Corp (
Vice Minister of Economic Affairs Shih Yen-hsiang (
The steelmaker is scheduled to hold a special board meeting on Friday to approve the personnel change, he said.
Shih did not explain the reason for the change and did not specify what position Chiang might take up instead.
The government is China Steel's largest shareholder, with a 22.6 percent stake in the company. As Chiang is an institutional representative appointed by the Ministry of Economic Affairs, the ministry can appoint Lin without going through the board.
China Steel executive vice president Chung Lo-min (鍾樂民) said yesterday that he couldn't comment on the personnel change because the company had not received formal documentation.
Lin is the chairman of Taiwan Cogeneration Corp (
He resigned the China Steel chairmanship and handed over to Chiang in October 2005 amid a controversy over stock bonuses of more than NT$40 million (US$1.2 million) he received when he was the firm's chief executive officer.
Additional reporting by Jessie Ho
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