Former minister of labor Lin Mei-chu (林美珠) yesterday resigned as chairwoman of state-run Taiwan Asset Management Co (TAMC, 台灣金聯資產管理), one day after assuming the position, because of public criticism over her appointment.
The nation’s largest owner of bad debt issued a brief statement yesterday afternoon saying that Lin had decided to relinquish the position due to personal reasons.
The state-run firm said it regretted Lin’s decision, but respects it.
Lin, a cousin of President Tsai Ing-wen (蔡英文), quit as minister of labor in February, citing health reasons.
The ministry had alienated workers’ unions and trade groups after revising labor regulations that require more days off and much higher overtime pay.
Many small and medium-sized companies opted to close on holidays to avoid heavy personnel costs, thereby denying workers the opportunity to make extra money.
TAMC said Lin is qualified to lead the company in light of her education and work experience.
Lin, 65, has a master’s degree in law from National Chengchi University and had worked as a Cabinet adviser, election commission secretary, deputy minister of the interior, Chiayi County deputy commissioner and a minister without portfolio.
New Power Party (NPP) Legislator Huang Kuo-chang (黃國昌) told reporters that it takes financial prowess to steer TAMC, but Lin has no experience in asset management.
Other critics called Lin’s appointment as TAMC head a blatant example of favoritism, which came right after the Democratic Progressive Party’s massive losses in the local elections.
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