Thu, Jul 05, 2018 - Page 12 News List

Compal shakes up management as it looks to diversify

NEW GUARD:Analysts say that Martin Wong is to mesh well with the new generation of executives as the firm expands into wearables and medicine

By Ted Chen  /  Staff reporter

Compal Electronics Inc (仁寶) yesterday announced major changes to its leadership as it works to grow its non-PC businesses.

The company’s board of directors named vice president Ray Chen (陳瑞聰) as vice chairman and chief strategy officer, a newly created role.

The personnel changes became effective yesterday, the company said in filings with the Taiwan Stock Exchange.

Chen was replaced by Martin Wong (翁宗斌), a former executive vice president, while Rock Hsu (許勝雄) stayed on as chairman.

Wong, a 29-year veteran at Compal, said that while the firm would continue to bolster its competitiveness in the PC and laptop contract manufacturing markets, it is looking to lower its reliance on the declining industry and expand into wearables and medical applications markets in search of higher profitability.

Compal hopes to scale back laptop shipments to half of the total from its current range of 70 to 80 percent, Chen said, adding that he would remain involved in day-to-day operations under his chief strategy officer role.

The company also appointed new chiefs for its PC and smart devices businesses, after a number of executives retired.

Market observers have said that Wong’s promotion is likely to aid Compal’s succession planning, as he is likely to mesh better with the new generation of key executives.

The company also announced plans to distribute a cash dividend of NT$1.2, based on last year’s earnings per share of NT$1.32.

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