Surf Taiwan News, Browse the World »
Tony Fan tipped to take over as Taiwan High Speed Rail chairman
Central News Agency
2014-03-10 11:05 PM
Taipei, March 10 (CNA) The Taipei-based China Aviation Development Foundation, one of the major shareholders of Taiwan High Speed Rail Corp. (THSRC), on Monday selected Tony Fan, chairman of Taiwan Futures Exchange Corp., to serve as its representative on the company's board. Given his new title, Fan is expected to be elected as chairman of Taiwan's only high-speed rail operator at a meeting of the company's board of directors on March 13. He would follow the same path taken by Ou Chin-der when he was named to lead the board in September 2009. Ou resigned March 5 to shoulder responsibility for operational glitches in the past few months, especially coming after THSRC raised ticket prices. In an unusual move, Ou sent a letter by fax to the government-sponsored China Aviation Development Foundation to resign as its representative on the board. By quitting his job, Ou effectively resigned as chairman of the board. Hsu Yung-hao, the foundation's principal secretary, praised Fan as a senior financial expert and said he is hopeful Fan can help fix the debt-ridden high-speed rail's financial problems based on his "excellent record in the financial, securities and aviation sectors." Fan, born in 1951, holds a doctoral degree in management information and artificial intelligence from the University of Cambridge. On Sunday, Transportation Minister Yeh Kuang-shih said the first thing THSRC's new chairman must do is deal with the NT$50 billion in debt the company has accumulated. (By Wang Shu-fen and Elizabeth Hsu)
Advertisement »
HOME |  WORLD |  Politics |  Business |  Sports |  Lifestyle |  TAIWAN |  Technology |  Health |  SUPPLEMENT |  Society |  OPINION
  • Taiwan News  ©  2014 All Rights Reserved.