TECO

Organizational system of the business group

The board of directors

( Term : 2018/6/15-2021/6/14 )

TECO Electric & Machinery board of directors is the company's supreme governing institution, in charge of the selection and nomination of ranking managers and the formulation of the strategy for corporate social responsibilities, corporate citizen, and sustainable development. In compliance with the "practical guidelines for corporate governance," when selecting members of the board of director, gender equality should be taken into account, as well as relevant capabilities, including business judgment, accounting and financial analysis, business administration and management, crisis management, industrial knowledge, understanding of international market, leadership, and decision making, so as to attain the ideal objective of corporate governance. According to the company's charter, the board of directors has 15 seats (including three for independent directors), for a three-year term. According to article 192-1 of the "Company Act," candidates for the board of directors are nominated and the acceptance of nomination and publication is carried out, in accordance with the regulations of the "Company Act," the "Securities and Exchange Act," and other related laws/regulations. The members of the board of directors are all outstanding figures in industry and academia, boasting abundant corporate-governance experience and industrial technological skills, as well as expertise in banking, finance, accounting, and law.

Chwen-Jy, ChiuChairman

MBA, University of Michigan, Ann-Arbor

Chao-Kai, LiuManaging Director

Ph.D. of Electric Engineering, University of Illinois

Cheng-Tsung, HuangManaging Director

Bachelor of Economics, Fu Jen Catholic University

Yu-Ren, HuangManaging Director

Bachelor & Master of Electric Engineering, Columbia University

Wei-Chi, LiuManaging director and independent director

Ph. D. of Business Administration, Northwestern University

Mao-Hsiung, HuangDirector

Master of Economics, University of Pennsylvania

Po-Chih, HuangDirector

Master of Mechanical Engineering, University of Tokyo

Shih-Chien, YangDirector

Master & Ph.D. of Electric Engineering, Northwestern University

Ting-Wong, ChengIndependent Director

Ph.D & Master, School of Accountancy, University of Missouri

Jin-Fu, ChangIndependent Director

Ph.D. of Electrical Engineering and Computer Sciences, University of California, Berkeley

Hong-Hsiang, LinDirector

Master of Mechanical Engineering, University of Houston

Dong-Hai GaoDirector

Advance Course for Business Manager, Division of Financial Management, National Chengchi University

Tzu-Yi, KuoDirector

Bachelor of Business Administration, University of Southern California

Shang-Wei, KaoDirector

Master of Business Administration, National Taiwan University of Science and Technology

Yung-Hsiang, ChangDirector

Bachelor of Industrial Engineering and Management, Minghsin University of Science and Technology

Independent Director

According to the company's charter, set up three seats of independent directors and in compliance with article 172-1 and article 192-1 of the "Company Act," specify in "announcement for acceptance of nomination for directors (including independent directors) of TECO Electric and Machinery" dated March 26, 2018, shareholders owning 1% or higher of total issued shares can nominate, in written form, list of candidates for directors (including independent directors). The 25th board of directors contains three seats of independent directors.

In the 21st meeting of the 24th board of directors on March 26, 2018, list of nominees for the 25th independent directors was presented for passage by the 2018 shareholders' meeting. According to article 192-1 of the "Company Act," the "Securities and Exchange Act," and "measures for setup and compliance for independent directors of companies with public share offering," the 24th board of directors in its 23rd meeting on April 30, 2018 reviewed the qualifications of the nominees.

Candidate name Household No./Shareholding Education Experience
Wei-Chi, Liu - / 0 share
  • Ph. D. of Business Administration, Northwestern University
  • Master of Business Administration, Northwestern University
  • Bachelor of Business Administration, National Cheng Kung University
  • Chairman of Taiwan High Speed Rail Corp
  • Chairman of International Bills Finance Corp
  • President of Chung Hua University
  • Independent Director of Fusheng Precision Company
  • Finance Consultant of Executive Yuan, Republic of China
  • President of National Sun Yat-Sen University
  • Chairman of ROC Private School Faculty and Staff Retirement, Compensation, Resignation and Severance Fund Management Committee
  • Chairman of Chinese Management Association
Ting-Wong, Cheng - / 0 share
  • Master & Ph.D. of Accountancy, Robert J. Trulaske, Sr.College of Business, University of Missouri
  • Master of Public Finance, National Chengchi University
  • Bachelor of Statistics, National Chengchi University
  • President, National Chengchi University
  • Provost of academic affairs, National Chengchi University
  • Dean, College of Commerce, National Chengchi University
  • Director, Graduate School of Accounting, National Chengchi University
  • Professor, National Chengchi University
  • Independent director, SuperAlloy Industrial Company Ltd.
  • Supervisor, the Central Bank of China
  • Independent director, Asia Pacific Telecom Co., Ltd.
Jin-Fu, Chang - / 0 share
  • Ph.D. of Electrical Engineering and Computer Sciences, University of California, Berkeley
  • Bachelor of Electrical Engineering, National Taiwan University
  • Chairman of Institute for Information Industry
  • Minister without Portfolio of Executive Yuan, Republic of China
  • Consultant of An-Shin Food Services Co., Ltd.
  • Independent Director of Taiwan Secom Co. , Ltd
  • President of Yuan Ze University
  • Vice Chairman of Industrial Technology Research Institute
  • President of National Chi Nan University
  • Deputy Minister of National Science Council


The company's shareholders' meeting on June 15, 2018 elected three independent directors, according to "measures governing institution of independent directors and items for compliance by companies with public share offering":

Name of position ID No. Name of candidates
Independent director A10383**** Wei-Chi, Liu
Independent director R10080**** Ting-Wong, Cheng
Independent director F10072**** Jin-Fu, Chang


mailbox of independent director: supervisor@teco.com.tw

Auditing Committee

The company set up the "auditing committee" in 2013, in place of original supervisors. The committee consists of independent directors (three seats), who elect among themselves a convener and chairman of meeting. Convener of the current auditing committee is Mr. Cheng Ting-wong.

The auditing committee oversees the proper expression of the company's financial statement, selection (dismissal), independence, and performance of certified public accountants, effective execution of the company's internal control mechanism, the company's legal compliance, and management of corporate survival or potential risks. It operates according to the company's "organization regulations for the auditing committee," with its reviewing scope covering financial statement, corporate auditing and accounting policy and procedure, internal control mechanism, major transactions of assets or derivatives, public placement or issuance of securities, appointment, dismissal, and compensation of certified public accountants, and the appointment and dismissal of financial, accounting, or internal-auditing chiefs. According to the "organizational regulations of the auditing committee," the auditing committee convenes at least once every quarter. For the convening of meeting and attendance rate of committee members, please refer to the company's yearbook.

Committee members Title Name Experience
Convener Ting-Wong, Cheng
  • President, National Chengchi University
  • Provost of academic affairs, National Chengchi University
  • Dean, College of Commerce, National Chengchi University
  • Director, Graduate School of Accounting, National Chengchi University
  • Professor, National Chengchi University
  • Independent director, SuperAlloy Industrial Company Ltd.
  • Supervisor, the Central Bank of China
  • Independent director, Asia Pacific Telecom Co., Ltd.
Independent director Jin-Fu, Chang
  • Chairman of Institute for Information Industry
  • Minister without Portfolio of Executive Yuan, Republic of China
  • Consultant of An-Shin Food Services Co., Ltd.
  • Independent Director of Taiwan Secom Co. , Ltd
  • President of Yuan Ze University
  • Vice Chairman of Industrial Technology Research Institute
  • President of National Chi Nan University
  • Deputy Minister of National Science Council
Managing director and independent director Wei-Chi, Liu
  • Chairman of Taiwan High Speed Rail Corp
  • Chairman of International Bills Finance Corp
  • President of Chung Hua University
  • Independent Director of Fusheng Precision Company
  • Finance Consultant of Executive Yuan, Republic of China
  • President of National Sun Yat-Sen University
  • Chairman of ROC Private School Faculty and Staff Retirement, Compensation, Resignation and Severance Fund Management Committee
  • Chairman of Chinese Management Association

Compensation Committee

For the establishment of a sound compensation system for the company's directors and managerial staffers, the company set up the "compensation committee" in August 2011, whose members, at a minimum of three, are appointed by the board of directors, including at least an independent director of the company, who, via support of all members, serves as the convener of the committee and chairman of its meetings. The convener is now served by Mr. Wei-Chi, Liu, managing director and independent director.

The compensation committee is in charge of formulating and regularly reviewing the policy on the performance evaluation and compensation for directors and managing staffers. According to the "organizational regulations for the compensation committee," the compensation committee convenes at least twice a year. For the committee's meetings and attendance rates of committee members, please refer to the company's yearbook.

Title in the committee Name Experience
Convener Wei-Chi, Liu
  • Chairman of Taiwan High Speed Rail Corp
  • Chairman of International Bills Finance Corp
  • President of Chung Hua University
  • Independent Director of Fusheng Precision Company
  • Finance Consultant of Executive Yuan, Republic of China
  • President of National Sun Yat-Sen University
  • Chairman of ROC Private School Faculty and Staff Retirement, Compensation, Resignation and Severance Fund Management Committee
  • Chairman of Chinese Management Association
Member Ting-Wong, Cheng
  • President, National Chengchi University
  • Provost of academic affairs, National Chengchi University
  • Dean, College of Commerce, National Chengchi University
  • Director, Graduate School of Accounting, National Chengchi University
  • Professor, National Chengchi University
  • Independent director, SuperAlloy Industrial Company Ltd.
  • Supervisor, the Central Bank of China
  • Independent director, Asia Pacific Telecom Co., Ltd.
Member Jin-Fu, Chang
  • Chairman of Institute for Information Industry
  • Minister without Portfolio of Executive Yuan, Republic of China
  • Consultant of An-Shin Food Services Co., Ltd.
  • Independent Director of Taiwan Secom Co. , Ltd
  • President of Yuan Ze University
  • Vice Chairman of Industrial Technology Research Institute
  • President of National Chi Nan University
  • Deputy Minister of National Science Council