Sophia Chiu Takes Over Helm of TECO
The shareholders´ meeting of TECO Co., Ltd. elected on June 11 Chiu Chwen-Jy, president of TECO, as the company´s chairperson, succeeding Liu Chao-kai, with Chiu going to lead the company in tapping the world´s emerging green-energy market and ascending a new business height.
Liu Chao-kai will continue to play a key role in the company´s decision making in the capacity as a managing director. The shareholders´ meeting also elected new directors and independent directors.
Liu Chao-kai remarked that the handover of the company´s helm, which he took over from Theodore Huang in 2007, to Chiu underscores the succession of the leadership, one generation after another, and embodies the company´s corporate governance and the concept of sustainable development.
Liu leaves abundance of heritage, having led the company make major inroads into the realm of green business under the corporate concept ´´TECO GO ECO,´´ notably the development of renewable energy and high-performance motors, such as large-scale wind turbines and electric car, on the basis of the company´s core electric-machinery technologies. In addition, TECO will team up with China Steel in setting a joint venture for manufacturing large-scale wind turbines, which is expected to install first experimental model of 5MW wind turbine off the coast of Taichung Harbor by the end of this year, as a prelude to foraying into the domestic offshore wind-farm market, which is estimated to reach NT$100 billion in scale by 2030.
During the shareholders´ meeting, Liu turned in an excellent report card for the company´s performance in 2014, when it raked in after-tax net profit of NT$4,066 million, a 21-year high, up 8%, with EPS reaching NT$2.06, a 17-year high, on sales of NT$24.256 million. The shareholders´ meeting also approved stock-dividend payout of NT$1.1 per share for 2014. In the future, backed by its technological edge, TECO will actively develop new energy-saving products and tap business opportunities related to carbon abatement, focusing on both core products and emerging green products, so as sustain sales growth and become a guidepost of the industry.