Taiwan's leading telecom operator gets new boss

Taiwan's leading telecom operator gets new boss

TAIPEI - Taiwan's leading telecom operator Chunghwa Telecom will get a new chairman from the high-tech sector, transport minister Yeh Kuang-shih said Tuesday.

The cabinet has approved the appointment of Rick Tsai, former chairman of the world's leading contract microchip maker Taiwan Semiconductor Manufacturing Co. (TSMC), to take over the reins at Chunghwa Telecom, Yeh told reporters.

Tsai will succeed Lee Yen-sung who retires next month. The surprise appointment is expected to be endorsed by the board of Chunghwa, which is controlled by the government, officials said.

The Taiwanese government holds a stake of more than 35 per cent in the company, although it has been privatised and listed on the Taiwan Stock Exchange.

Tsai becomes the second TSMC executive to switch companies in two days.

Taiwan's struggling personal computer maker Acer on Monday named a new leader, also a former senior TSMC executive, after sustaining losses of hundreds of millions of dollars in the third quarter.

Tsai has served as chairman of TSMC's two solar and lighting units since 2009 when he stepped down as chairman.

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