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Taiwan’s Tatung Company chairman to be replaced after 50 days in office

Lin family's 102-year control of company came to end in November

Lin Wen-yuan

Lin Wen-yuan (CNA photo)

TAIPEI (Taiwan News) — Tatung Co. Chairman Lin Wen-yuan (林文淵) revealed during a press conference on Tuesday (Dec. 22) that it was his last day working for the company, saying that he was in shock when he received the letter of dismissal and that he had no idea about what he did to deserve it.

Lin, 68, was elected as the new chairman of the board in November after the Lin family lost control of management. The family had controlled Tatung, a long-standing home appliances company, since its founding 102 years ago.

Currently, the board is controlled by investors led by Shanyuan Group Chairman Wang Kuang-hsiang (王光祥). Lin said that last week, Wang notified him the company would change its legal representative due to a different "time and space" and that he expected a new chair would be elected as early as Wednesday. Lin went on to say that even though he did not understand the reason behind his dismissal, all he could do was accept it and end his time at the company, the shortest stint in his long career.

According to a CNA report on Nov. 2, the ousted Tatung executive first worked in the public sector and served as chairperson of the state-owned China Steel Corporation and Taiwan Power Company.

Lin is also at the moment still chairman of two other entities: Taiwan Styrene Monomer Corporation and Eastern Broadcasting Co. He has been leading Tatung’s management since it changed hands following losses at three subsidiaries, including Chunghwa Picture Tubes, and years of not being able to dole out dividends to shareholders.

Infighting continued after Lin took the reins at Tatung, with a clique allegedly accusing him of running Taiwan Styrene Monomer Corporation poorly and therefore opposing his chairmanship at Tatung, according to CNA.

The chairman said that he and Wang were not on the same page in terms of management approaches. He added that even though their relationship did not deteriorate into open conflict, it would be difficult for them to work together in the future.

He apologized to all shareholders and employees during the press conference, reiterating that he had done nothing unworthy of the company during his 50-day stint.