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Tai Jeng-wu, president and CEO of Sharp, is facing a dilemma as to whether he should step down from his current post or continue to play the role that he has been playing at the Japan firm for the past 16 months.
When he took the helm of Sharp, Tai said he would step down when the company’s shares returned to trading on the First Section of the Tokyo Stock Exchange (TSE). Sharp’s shares resumed First Section trading last week due to improved earnings after being downgraded to the Second Section in August 2016 due to its prolonged business slump.
The company reported net profits of JPY20.2 billion (US$177.76 million) for the July-September period 2017, its fourth straight quarter of net earnings, compared to a net loss of JPY17.9 billion of the same period of a year earlier.
Meanwhile, Sharp’s share price has increased four-fold during the one-year period.
But Tai revealed recently that Sharp’s board of directors and some shareholders have expressed the hope that he stay and continue to lead the company.
Tai also admitted that the period of the time spent for Sharp’s shares to resume trading on the First Section was shorter than expected, which has complicated his resignation issue. Market observers had estimated the return to First Section would take 2-4 years.
To solve the issue, Tai has personally offered a proposal for Sharp to think about the possibility of a co-CEO system to run the company, hoping that such an arrangement will enable him to delegate some of responsibility while looking for a possible successor.
However, no details have been finalized, Tai said, adding that part of processes may start after his return to Japan on December 18.
Sharp CEO Tai Jeng-wu (right) poses with Sharp Taiwan’s new product spokesperson Tai Tzu-ying, currently the world’s No. 1 in women’s badminton singles.
Photo: Shihmin Fu, Digitimes, December 2017
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