TAIPEI (Taiwan News) — Taiwan Stock Exchange Corp. issued a report Thursday (April 15) listing the highest-paid board members of companies traded last year, with financial service provider CTBC Financial Holding Co. topping the list, followed by Taiwan Semiconductor Manufacturing Company (TSMC).
The best-paid board members in 2020 went to CTBC, formerly ChinaTrust Financial Holding, which paid each board director NT$57.94 million (US$2.36 million) on average. However, these paychecks were reportedly over 20 percent lower than in 2019.
Taiwan's stock market was riding high last year, when TSMC recorded both the biggest increase in share price among TWSE-listed companies and the largest market cap in the history of the firm, partly due to the global shortage of advanced chips.
Last year, the world's largest contract chipmaker had been operating at full capacity to keep up with demand. In return, TSMC implemented an significant pay increase for employees. Its board members were not forgotten, and each is said to have earned NT$54.89 million on average last year.
According to the report, up to 147 companies listed on the exchange recorded a loss in 2020, while 15 still paid their board members over NT$1 million each. Among these 15, Taipei-based consumer electronics manufacturer HTC gave out the biggest paychecks at NT$4.23 million per board member.
Other listed companies that paid their board members over NT$1 million despite operating at a loss include Eva Airways, Cheng Mei Materials Technology, Darwin Precisions, and Inventec Besta Co., according to the report.