TAIPEI (Taiwan News) — The former chairman of Sino-American Silicon Products Inc. (SAS, 中美矽晶), Lu Ming-kuang (盧明光), has taken the reins of long-standing home appliances company Tatung (大同) following Tuesday's (Dec. 22) surprise dismissal of incumbent Lin Wen-yuan (林文淵).

Chung Yi-wen (鍾依文), who played a prominent role in the leadership of electronics contract manufacturer Foxconn, has assumed the position of general manager of Tatung. The announcement was made in a press conference on Wednesday (Dec. 23), reported CNA.

Lu, 72, a business tycoon who has been dubbed the “acquisition king,” is best known for spearheading four acquisitions during his stint as SAS’ chair between 2007 and 2020. His leadership propelled SAS to its status as Taiwan’s leading silicon wafer and solar energy products supplier.

His many years of experience and ability to turn a loss into profit are allegedly the reason for his being tapped as the next chairman. Tatung, which has built a presence in the solar energy industry, expects to become a relevant player in the scene by using Lu's experience to copy the success of SAS, wrote UDN.

Lu is currently the chairman of Actron Technology Corporation (朋程科技), which has an over 53 percent share in the global automobile rectifier market, reported Liberty Times.

Tatung was recently ensnared in a bitter fight over its management, with a group of activist investors led by Shanyuan Group (三圓建設) Chairman Wang Kuang-hsiang (王光祥) winning a majority of the company’s board in a shareholders’ meeting in October. This terminated the founding Lin family’s 102-year control of the firm.

Lin Wen-yuan (林文淵), 68, who was elected as chairman following the management shift, revealed Tuesday (Dec. 22) that he was to be ousted after only 50 days in office for what he described as “unfathomable” reasons.