TAIPEI (Taiwan News) — Home appliance supplier and green energy solution provider Tatung Company is set to see off yet another chairman in what has been a tumultuous two-year period, with the new chairperson hopeful, vowing to leverage real property assets and green energy to quickly turn things around.
The century-old family business went through years-long management infighting which came to an end after former Chairwoman Lin Kuo Wen-yen (林郭文豔) was ousted in 2020 and was succeeded by professional manager Lin Wen-yuan (林文淵), who was tapped by major shareholders. Lin, however, was replaced in late 2020 by Sino-American Silicon Products founder and former Chairman Lu Ming-kuang (盧明光).
On Monday, Lu announced a decision at a press conference that he would step down along with General Manager Chaney Ho (何春盛), a former top executive at the industrial computer maker Advantech.
Lu and Ho read out a statement explaining that their short-term missions were completed and that they will hand over power to those who can lead the organization to quickly turn profitable, saying that goal could be reached by rejuvenation of the company's real property assets across the country. Tatung owns several real-estate properties in one of the most expensive business districts.
During his 40-minute speech, Lu said the company got rid of a significant amount of debt in a year under his leadership, with organizational reforms going well in different business units. "I hope the new management team will help the company move forward," he said
Some media outlets reported that company board director and Shanyuan Group Chairman Wang Kuang-hsiang (王光祥) would take the wheel of the company after Lu's departure.
Asked by reporters about the rumor, Wang did not respond directly but said he is willing to take the job if the company needs him. "I would migrate my successful formulas for building a profitable business if I am elected to lead Tatung," said Wang. He vowed to push the company to dedicate itself to the businesses of land development, green energy solutions, and manufacturing electric buses.
