Back to list

Chang Kuo-wei's succession at Evergreen Group reportedly stymied

2016/02/20 09:20:18

Taipei, Feb. 20 (CNA) Taiwan's Evergreen Group has been embroiled in an apparent war of succession among the children of group founder Chang Yung-fa (張榮發) after he died a month ago.

According to unconfirmed local media reports, Chang's three sons by his first wife used their voting power as major shareholders to abolish the group's headquarters and the position of its chairmanship.

Asked by reporters, the Evergreen Group said it could neither confirm nor deny the news, which local media attributed to a late Friday post in a popular online forum.

The latest development came a day after Chang Kuo-wei (張國煒), Chang's only son by his second wife, made public the will of the late group founder, in which the youngest son was named the new chairman of the conglomerate. Chang Yung-fa was chairman of the group until he died on January 20 at the age of 88.

The three children of Chang's first wife immediately expressed "regrets" that Chang's will was revealed when "the process of succession was still being discussed."

On Thursday, Chang held a meeting of senior executives of the group as the incoming chairman and hours later, news surfaced that the group's head office was abolished along with the chairmanship.

The Evergreen Group is a conglomerate of over a dozen shipping, transportation and associated service companies. Companies under the group's umbrella include Evergreen Marine Corp., EVA Airways Corp., UNI Air, Evergreen Logistics Corp. and Evergreen International Hotels.

Chang has served as chairman of EVA Airways Corp. since January 1, 2011 and was made a vice chairman of the group in Sept. 2014.

(By Jay Chen)
Enditem