CTBC Financial Holding Co (中信金控) topped the list of average board of director salaries in 2019 by compensating its board members an average of NT$89.88 million (US$3.16 million), overtaking Yageo Corp (國巨), data released yesterday by the Taiwan Stock Exchange (TWSE) showed.
The compensation includes cash, stock rewards and other types of payment to a director for their service in the board room, but excludes a paycheck for an additional role in management or for being a company employee, the TWSE said.
In 2018, CTBC Financial ranked No. 2 with an average package of NT$73.7 million, but its board compensation in 2019 rose 21.95 percent thanks to the increasing price of the company stock included in the package, the data showed.
In 2019, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, came in at No. 2 with an average board salary of NT$43.87 million, up 9.3 percent from 2018, the data showed.
Total board compensation at TSMC tallied NT$376 million in 2019 and accounted for 0.1 percent of its net profit that year, lower than the limit of 0.3 percent set in its bylaws, the data showed.
Handset camera lens maker Largan Precision Co (大立光) ranked third with an average compensation of NT$34.89 million, up 36 percent from 2018 thanks to an increase in net profit, the data showed.
Yageo dropped to fourth in 2019 from the top position in 2018, as its average remuneration slid to NT$31.2 million from NT$114.23 million — a decline of 72 percent — when the nation’s largest passive components supplier saw its annual net profit shrink 79 percent to NT$6.9 billion, the data showed.
Yuanta Financial Holding Co (元大金控) ranked fifth in 2019 with an average package of NT$27.62 million, followed by Taishin Financial Holding Co (台新金控) with NT$27.14 million and Uni-President Enterprises Corp (統一) with NT$25.44 million, the data showed.
Hotai Motor Co Ltd (和泰汽車) ranked eighth in 2019 with NT$22.82 million, followed by China Development Financial Holding Corp (中華開發金控) with NT$20.28 million and Fubon Financial Holding Co (富邦金控) with NT$20.23 million.
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
RSS