Phison Electronics Corp (群聯電子), a supplier of NAND flash memory controllers and modules, yesterday said it has approved the resignation of Pua Khein-seng (潘健成) as chairman, after he was found guilty last month by a district court of financial statement fraud in 2016.
The Hsinchu-based company said that Pua took the initiative of resigning as chairman and board director to meet corporate governance requirements.
However, he is to stay as the company’s chief executive officer and will appeal the ruling, which sentenced him to two years in prison, the company said in a statement.
Photo: CNA
Pua’s resignation will not affect Phison’s operations, technology research and development, or its future goal of growing into a company with more than NT$100 billion (US$3.6 billion) in annual revenue, Phison said.
“Board directors support Pua remaining as CEO and leading the company in attaining that revenue goal,” it said.
Vice president and deputy product business head Gan Wee Kuan (顏暐駩) is to take over as chairman, it added.
The arrangement means that Pua, the largest individual shareholder of Phison, is to take charge of the responsibilities entrusted by the board and look after the long-term benefits of the company and shareholders, it said.
Phison reported NT$16.9 billion in revenue for last quarter and NT$2.38 billion in net income, or earnings of NT$12.1 per share, the second-highest in the company’s history.
Revenue in the first three quarters totaled NT$45.7 billion, while profit stood at NT$32.15 per share, company data showed.
Shares of Phison yesterday closed up 2.38 percent at NT$409, outpacing the TAIEX’s 0.44 percent gain, Taipei Exchange data showed.
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