EVA Airways Corp (長榮航空) chairman Chang Kuo-wei (張國煒) was removed from his post yesterday, in the latest fallout from an escalating struggle between heirs to Evergreen Group (長榮集團) founder Chang Yung-fa (張榮發) as they vie to control the NT$400 billion (US$12.14 billion) shipping and transportation conglomerate.
Former Evergreen Steel Corp (長榮鋼鐵) chairman Steve Lin (林寶水) has been tapped to take the helm at EVA Airways following an extraordinary board meeting, the nation’s second-largest airline said in a regulatory filing.
Lin, a 40-year veteran at Evergreen Group, had served as chairman of EVA Airways between 2005 and 2011.
Photo: Wang Yi-hung, Taipei Times
During Lin’s chairmanship, the airline weathered the global financial crisis and then-surging oil prices, recording earnings per share of NT$3.69 for 2010.
“In light of ongoing disputes, the board has decided to return management control of EVA Air to an industry expert,” Lin said at a news conference at the Taiwan Stock Exchange Corp.
In a statement issued through his lawyer, Chang Kuo-wei raised concerns about possible disruption to the airline’s operation following a sudden change in leadership.
He also questioned whether the process conforms to procedural compliance, according to the statement.
Chang said in the statement he regretted that the executors of his father’s will and other heirs had gone against the wishes of the late Chang Yung-fa, who passed away on Jan. 20.
The succession battle between heirs to the conglomerate began when Chang Kuo-wei last month revealed a will left by his father, before the family agreed on the succession issue.
Chang Kuo-wei said that his father’s will had named him as successor to the Evergreen Group chairmanship and sole inheritor of Chang Yung-fa’s estate, worth billions of New Taiwan dollars.
Subsequently, Chang Yung-fa’s eldest son, Chang Kuo-hua (張國華), led his two brothers by his father’s first wife in leveraging their 16.31 percent combined stake in EVA Airways to challenge Chang Kuo-wei’s claim, backed by a smaller 14.37 percent stake.
Using their superior controlling stake, an extraordinary board meeting late last month was called to dissolve the group’s top management team, effectively ending Chang Kuo-wei’s one-day reign as Evergreen Group chairman.
The family feud continued, with the elder Chang brothers holding yet another extraordinary board meeting to remove Chang Kuo-wei’s chairmanship at EVA Airways.
In an interview with the Chinese-language Apple Daily, Chang Kuo-wei said that he did his best to carry out his father’s will, and that he will let others assess his track record at EVA Airways.
Looking ahead, Chang said that he has no regrets, and plans to take a break from the aviation industry, the newspaper quoted him as saying.
NATIONAL SECURITY THREAT: An official said that Guan Guan’s comments had gone beyond the threshold of free speech, as she advocated for the destruction of the ROC China-born media influencer Guan Guan’s (關關) residency permit has been revoked for repeatedly posting pro-China content that threatens national security, the National Immigration Agency said yesterday. Guan Guan has said many controversial things in her videos posted to Douyin (抖音), including “the red flag will soon be painted all over Taiwan” and “Taiwan is an inseparable part of China,” while expressing hope for expedited “reunification.” The agency received multiple reports alleging that Guan Guan had advocated for armed reunification last year. After investigating, the agency last month issued a notice requiring her to appear and account for her actions. Guan Guan appeared as required,
Japan and the Philippines yesterday signed a defense pact that would allow the tax-free provision of ammunition, fuel, food and other necessities when their forces stage joint training to boost deterrence against China’s growing aggression in the region and to bolster their preparation for natural disasters. Japan has faced increasing political, trade and security tensions with China, which was angered by Japanese Prime Minister Sanae Takaichi’s remark that a Chinese attack on Taiwan would be a survival-threatening situation for Japan, triggering a military response. Japan and the Philippines have also had separate territorial conflicts with Beijing in the East and South China
A strong cold air mass is expected to arrive tonight, bringing a change in weather and a drop in temperature, the Central Weather Administration (CWA) said. The coldest time would be early on Thursday morning, with temperatures in some areas dipping as low as 8°C, it said. Daytime highs yesterday were 22°C to 24°C in northern and eastern Taiwan, and about 25°C to 28°C in the central and southern regions, it said. However, nighttime lows would dip to about 15°C to 16°C in central and northern Taiwan as well as the northeast, and 17°C to 19°C elsewhere, it said. Tropical Storm Nokaen, currently
PAPERS, PLEASE: The gang exploited the high value of the passports, selling them at inflated prices to Chinese buyers, who would treat them as ‘invisibility cloaks’ The Yilan District Court has handed four members of a syndicate prison terms ranging from one year and two months to two years and two months for their involvement in a scheme to purchase Taiwanese passports and resell them abroad at a massive markup. A Chinese human smuggling syndicate purchased Taiwanese passports through local criminal networks, exploiting the passports’ visa-free travel privileges to turn a profit of more than 20 times the original price, the court said. Such criminal organizations enable people to impersonate Taiwanese when entering and exiting Taiwan and other countries, undermining social order and the credibility of the nation’s
RSS