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Firm defends its appointment to board of first lady's friend

Firm defends its appointment  to board of first lady's friend

China Steel Chemical Corp. yesterday defended its nomination of a close friend of first lady Wu Shu-jen as one of its board members in 2004, saying the decision was compatible with the company's regulations.
A CSCC spokesman said the company was applying to become a listed company at the time and had to add a board member from outside the company.
He added there was nothing unlawful in hiring Chen Chun-chin, a confidante of the first lady since their primary school days, as a board member because she specialized in industrial management.
Responding to a United Daily News report that questioned the justification of Chen's appointment as a board member because she owned only 10,000 shares of CSCC stock, the spokesman explained that a board member hired from outside the company does not need to own any shares in the company.
The CSCC - a member of the China Steel Group - is Taiwan's sole processor of coal tar, benzole and coke breeze, which are by-products in the process of making coke from coal by China Steel Corp., the only integrated steel maker in Taiwan.


Updated : 2021-10-17 20:09 GMT+08:00