CSBC chairman resigns after consecutive losses

CSBC chairman resigns after consecutive losses

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.

 

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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