‘SEAMLESS TRANSITION’: Pierre Chen would lead Yageo’s expansion to high-end markets for the automotive electronics and industrial segments, the company said

Taipei Times
Date: Aug 05, 2019
By:Lisa Wang  /  Staff reporter

Yageo Corp’s (國巨) founding chairman Pierre Chen (陳泰銘) is to resume his previous position of chief executive officer after the company saw net profit plunge 87 percent year-on-year last quarter, dragged by slower inventory digestion and sluggish demand.

Yageo, the world’s No. 3 multilayer ceramic capacitor (MLCC) supplier, said that its board of directors approved the personnel adjustment on Friday as the company continued to grapple with an industry slump and economic uncertainty stemming from the US-China trade dispute.

Five years ago, Chen relinquished his CEO position to Dora Chang (張綺雯), who was Yageo’s chief financial officer at the time.

The company expects to “make a seamless transition, as Chen has been well involved in the development of the passive components industry and the company’s operation strategies,” Yageo said in a statement.    [FULL  STORY]