Thomas Fan Appointed as New TECO President
TECO Electric &
Machinery Co., Ltd. has appointed Thomas Fan as new president, succeeding J.
George Lien, who will leave the post after reaching the mandatory retirement
age of 65 and become an advisor to the company.
The personnel change, effective
April 7, was approved at the company's board of directors today, when Sophia
Chiu, chairman, expressed her gratitude to Lien's contribution since assuming
the presidency in 2018, including significant profits growth and institution of
management tracking system, which greatly improves the company's business
performance. Previously, Lien had served the stints as heads of
electromechanical business group and information and electronics business group
after joining the company in 2001.
The incoming president, Thomas
Fan, 60, is a professional manager, with extensive experience, spanning
finance, procurement, engineering, and management, mostly in the automotive
field. Graduating from mechanical engineering department of National Cheng Kung
University and with a doctorate degree in mechanical engineering from University
of Michigan, he had served the president of Ford Lio Ho Motor Company. TECO
expects the new president will inject new element of mindset and innovation to
the company's operation.
The board of directors
also approved the company's 2021 financial statement today, according to which
it racked up consolidated revenue of NT$52.56 billion in the year, a seven-year
high, up 14.7%, with earnings per share reaching NT$2.38, an all-time high, as
after-tax net profits jumping 42.8%. The board resolved to pay out NT$1.35 cash
dividend per share.