Food and beverage maker Taisun Enterprise Co (泰山企業), which is run by the Chan (詹) family, yesterday said it would seek unity among family members, but respect different opinions, as its majority shareholder is pushing for a board reshuffle that might lead to a change in ownership.
The Changhua-based company made known its stance at the Taiwan Stock Exchange, as majority shareholder Long Bon International Co (龍邦) has been pressing for a special shareholders’ meeting and questioning Taisun’s recent disposal of shares in Taiwan FamilyMart Co (全家便利商店).
“The transaction is legal and accountable, generating more than NT$5 billion [US$162.95 million] in profit for Taisun, which can be seen in its account,” Taisun board director Chan Hao-chun (詹皓鈞) told a news conference in Taipei.
Photo: Amy Yang, Taipei Times
Long Bon, which has a majority position in Taisun after acquiring shares from Chan’s cousins and uncles, including a former chairman, is driving a special shareholders’ meeting through an independent director to rearrange the board and management rights.
Most of the other family members are united and want to keep the conglomerate in the family, Chan said.
“We are the ones who can really polish Taisun’s brand,” he said.
Taisun’s operations in China have swung to an annual profit of more than NT$50 million after emerging from the COVID-19 pandemic, he said.
Allegations by Long Bon that Taisun had engaged in malpractice over the FamilyMart share sale are unfounded and the company would file defamation suits, Taisun said.
Long Bon has criticized the timing of the deal after a deep price correction this year and Taisun’s refusal to say who acquired the shares.
Taisun’s lawyers suggested that the Chan family discuss the company’s future by taking cues from foreign family businesses.
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