TAIPEI (Taiwan News) – Formosa TV (FTV) General Manager Wang Ming-yu (王明玉) was elected as the TV station’s chairman at an interim shareholders’ meeting on Tuesday (April 2) to end a month-long quarrel with the ousted and politically outspoken chairman George P. Kuo (郭倍宏).
Allegedly entangled in a NT$500 million embezzlement scandal and criticized for his management style, Kuo was dethroned at a quick board meeting on March 14, while the fight between the company’s top-level executives raged on. On Tuesday, the company’s key stakeholders convened the year’s first interim shareholders’ meeting, which was attended by its honorary board director Tien Tsai-ting (田再庭), to pick a new leader.
The group is slated to approve the appointment of FTV veteran Liao Ji-fang (廖季芳) as Wang’s successor at June's regular shareholders' meeting.
Kuo joined FTV in 2016, and in April of 2018, founded the pro-independence Formosa Alliance (喜樂島聯盟) to pressure the Tsai Ing-wen (蔡英文) government to initiate a referendum on independence from China. Kuo has been criticized for using the television station to promote his pro-Taiwan independence ideas, which include expanding political affairs programs, as well as paying for the alliance’s activities from FTV’s pockets, according to media reports.
People familiar with the matter told the media that at least four political affairs programs have been created under Kuo's tenure, and the outrageous costs of "Jeng Chin on FTV53" (政經看民視), "Taiwan Forefront" (台灣最前線) among others racked up nearly NT$200 million in two years, eating away company profits.
Besides the political shows production disputes, Kuo is also under attack for the alleged misappropriation of a NT$500-million loan relating to the company's new building in Linkou, which is said to have been sent back to the company, and for tampering with records of board-meeting resolutions, Mirror Media and NOWnews report.
Kuo didn’t show up at Tuesday’s interim meeting, but he declared earlier that the decisions made would be invalid.