TPPC chairman sets condition for leaving

BOARDROOM BATTLES:Chien Hung-wen is nearing retirement age at Mega Securities, but wants permission to stay as chairman there in return for giving up his post at TPPC

Taipei Times
Date: Feb 27, 2017
By: Kuo Chia-erh / Staff reporter

Taiwan Pulp and Paper Corp (TPPC, 台灣紙業) chairman Chien Hung-wen (簡鴻文) might relinquish his control of the company in exchange for the Ministry of Finance’s support for his chairmanship at Mega Securities Co (兆豐證券), the Chinese-language Liberty Times (the Taipei Times’ sister newspaper) reported on Friday, citing sources at the ministry.

Chien, the focal point of an intensified boardroom row at the 70-year-old Tainan-based TPPC, filed a request with the ministry on Friday for permission to extend his tenure at the brokerage arm of state-run Mega Financial Holding Co (兆豐金控), the Liberty Times said.

The ministry is a major shareholder of Mega Financial and has the power to appoint heads at the financial firm and its subsidiaries.

Chien turns 65 this year, the official retirement age at Mega Securities, the paper said.

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