Theodore Huang No Longer on TECO Board of Directors
Theodore
Huang, former chairman of TECO Electric & Machinery Co., Ltd., has
relinquished his seat on the company's board of directors, according to the
company's announcement on the substitution of Huang Cheng-tsung for Theodore
Huang as representative of Tungho International Investment Co., Ltd., effective
Oct. 1.
Theodore
Huang made remarkable contribution to the development of TECO in his tenure as
the company's chairman during 1991-2007, when he oversaw the company's inroads
into the motor market in North America via acquisition of Westinghouse Motor
Co., Ltd. of the U.S., renamed TECO Westinghouse Motor Co., Ltd. then, thereby
making TECO a topnotch motor supplier in the world. He also laid the foundation
for the internationalization and diversification of TECO Group and had the
company take part in the nation's major infrastructural projects, including
Taiwan High-Speed Rail, National Health Insurance IC card, Nankang Software
Park, and freeway electronic toll-collection system.
Sophia
Chiu, TECO chairman, expressed her gratitude to Huang's contribution to the
company, saying that under his leadership, TECO marked several milestones in
its development, carving out its pride-worthy presence on the world market and
creating its brand value. While departure of Huang constitutes a major loss of
the company, Chiu said she respects Huang's decision but hoped Huang can
continue contributing his wisdom and experience to the group's development,
especially in the fields of realty and industrial park development and biotech.
Huang retains the chairmanship of Century Development Corp., a TECO affiliate.
Theodore
Huang played down his job change, attributing it to his hope for lightening his
responsibility, at a time when operation of the new board of directors has been
on track following its reelection in July. He hoped that TECO can keep pace
with global trend in its development, such as in the aspect of carbon
neutrality, so as to create even higher value for shareholders, employees, and
society.