Former D-Link Corp (友訊科技) chairman John Lee (李中旺) is to resume his post at the company, replacing Lori Hu (胡雪), after a special shareholders’ meeting in Taipei yesterday voted to reinstate him.
Convened by two independent members of D-Link’s board of directors — Chung Shyang-fong (鍾祥鳳) and Fong Chung-peng (馮忠鵬) — the meeting resulted in the dismissal of Hu along with five other members, with more than 70 percent of votes in favor of the move.
Lee was also elected as the company’s new chairman.
Photo: Chien Jung-fong, Taipei Times
Thanking shareholders for their support, Lee said he aims to stabilize the company’s management and resume operations as soon as possible before the next shareholders’ meeting due on June 15.
However, Lee was denied entry to D-Link headquarters later yesterday.
Accompanied by Chung, Fong and his lawyer, Lee was confronted by Hu’s son, Howard Kao (高宏毅), who blocked their way, insisting that Lee come back when D-Link’s registration with the Ministry of Economic Affairs’ Department of Commerce has been modified.
The developments followed reports of a management crisis at D-Link, with company executives and board members forming two opposing camps.
Aiming to turn the company around after continuous losses over the past few years, Lee, who previously served as chairman, vice chairman and chief executive officer at the company, earlier this year sought help from Taiwan Steel Group (台鋼).
However, his move was met with strong resistance from Hu, who sought an alliance with Qisda Corp (佳世達) via D-Link subsidiary Alpha Networks Inc (明泰科技).
Lee was last month dismissed from his chairman position at Alpha Networks and his vice chairman position at D-Link.
The power struggle for D-Link leadership between Lee and Hu, and the camps they belong to, culminated in a fine of NT$300,000 for the company.
The fine, levied last week by the Taiwan Stock Exchange (TWSE), came after D-Link’s board of directors decided to postpone a regular shareholders’ meeting in a bid to prevent a hostile takeover from Taiwan Steel.
Taiwan Steel has obtained a power of attorney by shareholders in its bid for control of D-Link with the support of Lee and other company executives.
Following an ultimatum by TWSE threatening to place D-Link’s shares in the altered trading method category, the company backtracked on its decision, reverting to the original date for the shareholders’ meeting.
NOTABLE SHIFT: By 2030, 50% of all laptops would be assembled in Southeast Asia, while Taiwan would still mostly focus on research and development, a report said Global laptop and desktop computer supply chains are expected to shift significantly away from China in the next 10 years, a Market Intelligence & Consulting Institute (MIC, 產業情報研究所) report said. By 2030, only 40 percent of global laptop production would remain in China, said the report, which was released on Thursday. “The reshuffling of the global supply chain will be one of the most important trends in the next 10 years,” the institute said in the report. “In the long run, key component makers will follow laptop assemblers in moving out of China.” The Taipei-based institute predicted most key component makers
Yageo Corp (國巨), the world’s third-largest supplier of multilayer ceramic capacitors, has formed a strategic alliance with Hon Hai Precision Industry Co (鴻海精密) to develop key electronic components for electric vehicles and digital healthcare, it said yesterday. The alliance is to help Yageo boost its revenue from high-end components for vehicles and industrial, medical and aerospace devices, as well as those used in 5G and Internet-of-Things devices, the company said. The companies signed the strategic alliance agreement at Yageo’s headquarters in New Taipei City’s Sindian District (新店). Their cooperation is to start this quarter, the companies said in a joint statement. “Through the cooperation
SUPPLY CONSTRAINTS: The transferred orders might not provide an immediate revenue boost given local chipmakers’ high utilization rates, a senior analyst said Shares of local contract chipmakers yesterday rose as much as the 10 percent daily limit, as investors bet on orders being transferred from Semiconductor Manufacturing International Corp (SMIC, 中芯國際) after the US imposed export restrictions on the Chinese chipmaker. United Microelectronics Corp (UMC, 聯電) shares soared 10 percent to close at NT$27.5 as 380 million shares changed hands on the Taiwan Stock Exchange. UMC is the world’s No. 3 foundry by revenue, followed by SMIC, according to data from market researcher TrendForce Corp (集邦科技). UMC has product and customer portfolios similar to those of SMIC, TrendForce said, adding that UMC offers 14-nanometer and
‘IMPORTANT MILESTONE’: The firm expects to launch the generic of Revlimid in the US after March 2022. It has already launched the product in some European countries Lotus Pharmaceutical Co Ltd (美時化學製藥) has received tentative approval from the US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA) for lenalidomide, the company said in a statement on Friday. The ANDA approval is for 2.5mg, 5mg, 10mg, 20mg and 25mg capsules of lenalidomide, which is a generic version of blood cancer drug Revlimid developed by Celgene Corp. It is the first product fully developed and manufactured in Lotus’ facilities in Taiwan. Lotus expects to launch the product in the US — based on its patent litigation settlement with Celgene last year — some time after March