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Taiwan Stock Exchange warns Evergreen over succession fued

Taiwan Stock Exchange has urged Evergreen Group to handle the management restructuring properly in order not to damage the interests of investors.

The succession war at Evergreen escalated yesterday when the group announced it will terminate the chairman role, in response to the late chairman Chang Yung-fa’s youngest son Chang Kuo-wei declaring himself the new chairman of the group.

Lih-chung Chien, executive vice president of Taiwan Stock Exchange, has urged Evergreen Group to consider corporate governance and investor’s interest as priorities, and said the stock exchange will closely watch the management restructuring process.

Evergreen Group operates four listed subsidiaries, Evergreen Marine, EVA Airways, Evergreen International Storage and Transport and Central Reinsurance Coporation.

According to Taiwanese local media, the three older brothers of Chang Kuo-wei has agreed to support him as chairman only if he donates all of the assets inherited from Chang Yung-fa to charity.

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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