By Kuo Chia-erh / Staff reporterUnprofitable Taiwan Pulp and Paper Corp (TPPC, 台灣紙業) yesterday elected a new board of directors and chairman after an extraordinary shareholders’ meeting ousted the former chairman, ending an embittered management battle. Board director Hsu Liang-yu (許良宇), a lawyer, won the chairmanship from Chien Hung-wen (簡鴻文) in Tainan yesterday with 57.09 percent attendance at the meeting. Board members siding with Yu yesterday won five seats on the six-member board, while Chien’s family, which has a more than 20 percent stake in TPPC, gained only one seat. Besides electing a new chairman, TPPC’s new board also recognized last year’s earning results in line with regulatory requirements. TPPC, which operates three subsidiaries in Vietnam, is also planning to expand its market presence there this year, Hsu said.

Source: Taipei Times March 13, 2017 16:01 UTC