Bloomberg News

Taiwan Stock Exchange to Install New Chairman Lee on Feb. 25

February 23, 2013

Taiwan’s main bourse will install Lee Sush-der as chairman in a ceremony on Feb. 25 after Schive Chi’s appointment to the island’s Cabinet amid the naming of a new premier and other officials this month.

The Taiwan Stock Exchange received a formal government notice appointing Lee, spokesman Michael Lin said today by phone. Lee has been serving as chairman of Taiwan’s Gre Tai Securities Market, the smaller of the island’s two stock exchanges, since August 2012.

The announcement follows the installation of a new premier, Jiang Yi-huah, and other Cabinet officials as President Ma Ying- jeou battles a 14 percent approval rating. Previous stock exchange chairman Schive was named Minister Without Portfolio and China Airlines Ltd. Chairman Chang Chia-Juch, was named economy minister. Central bank Governor Perng Fai-Nan was formally re-appointed today to a fourth five-year term.

Lee, 61, served as finance minister during President Ma Ying-jeou’s first term from 2008 to 2012. As finance minister, Lee introduced a tax on residential properties sold within two years to rein record-high home prices.

Taiwan Stock Exchange has been pushing for listings by foreign companies and overseas Taiwanese firms. A total of 840 stocks traded on the exchange as of the end of 2012, up from 824 in 2011, according to Joe Wang, a spokesman for the exchange. The Financial Supervisory Commission, the island’s financial regulator, said Jan. 29 that it had discussed having China- registered companies list in Taiwan with the China Securities Regulatory Commission.

Hamilton Liu, a China Airlines spokesman, said by phone today the board hasn’t appointed a new chairman.

To contact the reporters on this story: Chinmei Sung in Taipei at csung4@bloomberg.net; Cindy Wang in Taipei at hwang61@bloomberg.net

To contact the editor responsible for this story: Debra Mao at dmao5@bloomberg.net


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