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.