Tatung Co (大同) president Willie Tsai (蔡維力) yesterday quit his position at the century-old home appliance brand, citing personal reasons.
Tsai served for seven weeks, the shortest tenure among all Tatung presidents.
The firm has seen frequent changes in its senior management after chairman Wang Kuang-hsiang (王光祥) in 2020 took office at the firm, which incurred heavy losses in the past few years, but holds massive real-estate assets.
Tsai, who assumed his post on July 1, announced his resignation, effective immediately, in a letter to colleagues and wished the company success.
The departure came after Wang told a shareholders’ conference in June that the company would undergo organizational restructuring and that he tapped Tsai to carry out the “tough task.”
Tsai is a former president of YFY Inc (永豐餘投資控股), a consortium of paper manufacturing and biotechnology businesses.
Tsai told a public function on July 14 that he needed to gain a better understanding of Tatung before he could tell the public about his plans for the company.
Tatung said in a brief statement yesterday that vice chairman Wang Chin-lai (王金來) would act as president for the time being.
Tsai’s predecessors, Chaney Ho (何春盛) and Chung Yi-wen (鍾依文), also served for only a few months.
Similarly, former Tutung chairmen Lu Ming-kuang (盧明光) and Lin Wen-yuan (林文淵) left the company shortly after taking the post.
For the first six months of this year, Tatung reported cumulative net profit of NT$962 million (US$32.1 million), up 82 percent from a year earlier, with earnings per share rising from NT$0.23 to NT$0.41, corporate data showed.
Its shares lost 0.56 percent to NT$35.4 in Taipei yesterday, Taiwan Stock Exchange data showed.
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