Formosa TV (FTV) shareholders yesterday selected Wang Ming-yu (王明玉) to replace Kuo Bei-hong (郭倍宏) as the network’s new chairwoman.
The network held an extraordinary shareholders’ meeting in New Taipei City’s Linkou District (林口) after its board of directors on March 14 voted to dismiss Kuo.
During the board meeting, Kuo had reportedly failed to clearly explain the whereabouts of NT$500 million (US$16.21 million) that he and other members of the board had borrowed from banks under the network’s name.
Photo: Chen Yi-kuan, Taipei Times
He was also accused of supporting the production of a series of unpopular political talk shows, which he allegedly used to promote his political agenda, rather than to generate profits.
Kuo has since held several news conferences, saying that he had returned the money to the network’s account and would resign from his position.
Yesterday’s meeting selected 21 board directors, from which seven managing directors were chosen.
Wang, who is among the new managing directors, was elected chairwoman, while Formosa Investment Co chairman Huang Ming-chan (黃明展) was elected vice chairman.
Formosa Investment is FTV’s largest shareholder.
Former FTV chairman Tien Tsai-ting (田再庭), who attended the meeting as a honorary director, said that yesterday’s meeting was illegal.
“Wang should remember that she was not supposed to betray FTV’s founding purpose. Before the meeting, I chose to say nothing. However, seeing that shareholders could not voice their dissent during the meeting made me think that Kuo was right all along,” he said.
“Wang and Formosa Investment have planned for this to happen, and it took them only three minutes to depose Kuo. It was really uncivilized of them to monopolize the microphone during the meeting,” Tien said.
Based on the shareholders’ decision, Wang’ tenure is to end on April 1, 2022.
The shareholders also voted to cancel an annual shareholders’ meeting on May 9 that had been scheduled by the previous board.
Wang told reporters that the extraordinary meeting was held legally and followed due procedures.
Asked who the company’s new president would be, Wang said that the person must be a professional who understands the television industry.
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