Cheng Wen-Lon, the chairman of Taiwanese flagship shipbuilder CSBC Corporation, has sent an application to controlling shareholder the Ministry of Economic Affairs, to resign from the company.
Cheng’s resignation follows CSBC posting a net loss of TWD1.78bn ($59m) for the year of 2019, the fourth consecutive year that the shipyard has suffered losses.
The Ministry of Economic Affairs has taken the resignation request into consideration and will make a decision soon.
Cheng was re-appointed as chairman of CSBC in 2016 after he was originally appointed chairman of the company in 2008 by the government to promote the privatisation of the yard.
CSBC diversified its business into offshore in 2017 and set up a joint venture with Belgian company DEME to serve the emerging offshore wind industry in Taiwan.