The company’s board held an extraordinary meeting yesterday at which Chang was also appointed temporary chairman of two Taiwan Cement affiliates — China Synthetic Rubber Corp (CSRC, 中國合成橡膠) and Taiwan Prosperity Chemical Corp (TPCC, 信昌化學工業). “The chairman has been hospitalized and is unable to carry out his duties,” Taiwan Cement said of the board’s decision in a Taiwan Stock Exchange filing. Koo, 63, is the second son of the late Koo Chen-fu (辜振甫), a former chairman of the Straits Exchange Foundation. Taiwan Cement reported sales of NT$89.57 billion (US$2.84 billion) last year, down 4.38 percent from the previous year. Shares of Taiwan Cement closed at NT$34.95 on Friday, up 36.26 percent over the past 12 months, Taiwan Stock Exchange data showed.

Source: Taipei Times January 22, 2017 16:03 UTC