Cathay Financial Holding Co (國泰金控) yesterday announced major leadership changes at its subsidiaries as part of plans to improve governance by separating ownership from management.
Group chairman Tsai Hong-tu (蔡宏圖) has vacated the chairmanship of Cathay Life Insurance Co (國泰人壽), the company’s flagship unit, with the post to be filled by Huang Diao-kuei (黃調貴), who had served as vice chairman at the nation’s largest insurer, Cathay Financial said after its shareholders’ meeting.
Cathay Financial also promoted new president and vice presidents from within its ranks of senior managers, while Cathay Century Insurance Co (國泰產險) also announced new chairman and president appointments.
Last year at a shareholders’ meeting Tsai said that Cathay Financial’s founding Tsai family would take a secondary role in managing day-to-day operations, which would be the responsibility of a management team of industry experts.
Tsai added that his children would not chair Cathay Financial’s subsidiaries.
Cathay Financial yesterday said that earnings per share performance this year could exceed last year’s NT$3.79 amid diminished concerns about foreign exchange losses from an appreciating New Taiwan dollar.
Separately, Fubon Financial Holding Co (富邦金控) shareholders yesterday approved plans to distribute a cash dividend of NT$2 per share.
At the company’s annual general meeting, shareholders also agreed to a proposal to expand the number of independent director seats from four to six to help improve corporate governance.
Including three board seats occupied by Taipei City Government appointees, the nine outside directors now have majority representation on the company’s 15-seat board, Fubon Financial said.
Meanwhile, Shin Kong Financial Holding Co’s (新光金控) general meeting proceeded smoothly, ending rumors of a proxy fight between majority owners dissatisfied with the company’s earnings slump.
Shin Kong Financial chairman Eugene Wu (吳東進) and allies received the bulk of the ballots in a board of directors election, with newly appointed president Lee Jih-chu (李紀珠) also securing a seat.
Netherlands-based semiconductor equipment supplier ASML Holding NV yesterday said that it is planning to hire an additional 1,000 people in Taiwan this year in response to growing demand from clients. ASML had previously planned to recruit 600 people this year, but that the plan has been adjusted upward, ASML vice president and ASML Taiwan general manager Grace Wang (汪佳慧) told reporters. ASML has a workforce of more than 4,500 in Taiwan, accounting for about 10 percent of its global total, Wang said. This year’s recruitment campaign would focus on adding people in the customer support, manufacturing and supply chain domains to assist ASML
UNDER MICROSCOPE: Taiwan detained three people who allegedly conspired to buy servers in Taiwan and export them using fraudulent documentation, prosecutors said Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Saturday urged Super Micro Computer Inc to tighten up on compliance after Taiwan detained three people this week for allegedly making fraudulent declarations about artificial intelligence (AI) servers made by its US partner. The development marked the nation’s first crackdown on semiconductor smuggling, which grew after the US slapped restrictions on exports of high-end chips such as Nvidia AI accelerators to China. Nvidia is “rigorous” in explaining regulations to all of its partners, Huang told reporters after arriving in Taipei. “Ultimately Super Micro has to run their own company,” he said in response to
Nvidia Corp yesterday announced that CEO Jensen Huang (黃仁勳) would attend an employee meeting in Taipei tomorrow to celebrate the launch of the company’s Taiwan headquarters project. Huang would attend a gathering at the site of Nvidia’s planned headquarters in Beitou Shilin Technology Park (北投士林科技園區), the company said in a statement. After arriving in Taiwan on Saturday last week, Huang told reporters that he plans to meet with Quanta Computer Inc (廣達) chairman Barry Lam (林百里) and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) chairman C.C. Wei (魏哲家), and would attend the groundbreaking ceremony for Nvidia’s Taiwan headquarters tomorrow. Nvidia has not yet applied
Huawei Technologies Co (華為) said it has come up with a new pathway to shorten its gap with industry leader Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), potentially achieving a breakthrough in making advanced semiconductors without cutting-edge equipment. Right now there is about a five-year gap between what TSMC is capable of and what Huawei, together with its manufacturing partner Semiconductor Manufacturing International Corp (中芯), can produce. Huawei is to start making 1.4-nanometer chips by 2031 with its own “LogicFolding” technology, Huawei semiconductor chief He Tingbo (何庭波) said in a rare public appearance during a chip conference yesterday, while TSMC has
RSS