TECO Electric & Machinery (1504) held its shareholders’ meeting on the 24th, conducting elections for 7 directors and 4 independent directors. In this 19-to-11 election, Chih-Yuan Hou, nominated by Creative Sensor Inc., was elected with the highest number of votes, demonstrating shareholders’ confidence and support for the reform camp. Yu-Ren Huang, Chairman of CSI (8249) and initiator of “Future TECO,” expressed deep gratitude for this outcome and congratulated all elected directors, hoping the new team will bring a fresh outlook to TECO and lead it to new heights of success.
Yu-Ren Huang expressed his heartfelt thanks to every shareholder who supported TECO’s reform in this crucial election. These supporters not only voted but also personally reached out to dozens of friends and family members, both domestically and internationally, to rally support for the reform. Some even faced significant challenges, like a supporter who travelled extensively by motorcycle and continued despite being involved in an accident, or those who crossed borders to explain the reform vision to large international investment institutions. He also mentioned a centenarian founding shareholder who has witnessed TECO’s growth over nearly 70 years and now steadfastly supports innovation and reform. All these efforts and perseverance filled the process with emotions and warmth, which Yu-Ren Huang said he would remember for a lifetime.
Huang further extended his gratitude not only to the aforementioned shareholders but also to TECO’s founding, long-term, and new shareholders, institutional investors, foreign investors, all nominated candidates, and those who, regardless of their voting stance, were willing to listen to and participate in the “Future TECO” reform movement.
CSI nominated 4 director candidates this time, including incumbent directors Li-Chong Huang, Chih-Yuan Hou, Song-Ren Fang, and newly nominated Liang-Chien Chen. The 4 independent director candidates were Yu-Hsuan Wu, Ming-Shiuan Lee, Chao-Ching Huang, and Po-Min Yang. These eight candidates possess transformative expertise and core skills in finance and technology, with Chih-Yuan Hou being elected with the highest number of votes. He is expected to continue representing the reform camp, playing a crucial role in corporate governance and innovation, and dedicating efforts to TECO’s future development.
Yu-Ren Huang pointed out that the support from many shareholders during this election process further solidified the belief in reform. The founding shareholders of TECO actively mobilized shareholders to participate in the election, demonstrating a collective desire for modern and innovative leadership. He emphasized that the reform camp will continue to modernize the board, introduce innovative skills and experiences, and enhance corporate governance to address the rapidly changing competitive and technological environment.
Amid the global economic downturn and increased risk aversion among foreign investors, Yu-Ren Huang stressed that TECO needs to focus more on innovation and comprehensive product portfolio transformation. By adopting innovative strategies, TECO can shape a brighter future, regain global leadership, and achieve sustainable long-term shareholder returns.