Corporate Governance

Douglas Tong Hsu holds an MBA from University of Notre Dame and a master’s degree in Economics from Columbia University. He joined FENC (then Far Eastern Textile Ltd.) in 1971 as executive vice president and oversaw export business. He won consecutive governmental designations of Excellent Exporters/Importers, laying the groundwork for the explosive growth that followed. In 1979, he took the position as president of Far Eastern Textile Ltd., bringing sweeping reform to stay on par with the ever changing global market and to make the company flourished. In 1988, he took the concurrent posts of vice chairman and president, while also taking the helm of Far Eastern Department Stores Ltd. (FEDS) as the chairman. It was under his guidance that the management of FEDS transformed to one of international caliber. The year 1992 marks a critical juncture for the textile industry in Taiwan. With him at the helm as the chairman of FENC; “sincerity, diligence, thrift, prudence and innovation” as the founding spirit, the company extends its reach with worldly perspective to encompass production, land development and investment businesses.

Beginning in the 1990s, Chairman Hsu has made Far Eastern Group one of the most multifaceted enterprises in Taiwan with its business empire spanning across telecom and technology, cement and building material, transportation, retail, financial services, construction, etc. He also accelerated overseas deployments with business locations in China, Japan, Vietnam, Malaysia, the Philippines, Thailand, Indonesia, Singapore and the U.S., making Far Eastern Group a regional and global conglomerate. Under his leadership, the total assets of Far Eastern Group grew 1300% to reach NT$3 trillion. Total revenues grew by 700% to reach NT$750 billion and total number of employees surpassed 63,000 worldwide. Chairman Hsu also serves as the chairman of Asia Cement Corporation, Oriental Union Chemical Corporation, U-Ming Marine Transport Corporation, Far Eastern Department Stores Ltd. and Far EasTone Telecommunications Co., Ltd. as well as the vice chairman of Far Eastern International Bank. As the age of new economy has arrived, Chairman Hsu is making quantum leaps in business models to blaze the trails into new markets and foster competitive advantages for sustainable growth. Awards presented to him in 2019 include Special Achievement Award, the highest honor from Asia Pacific Enterprise Awards (APEA) and Outstanding Professional World Class, the pinnacle of awards presented to individuals from Global Corporate Sustainability Awards (GCSA).

Johnny Hsi holds an MBA and master’s degree in Computer Science from Columbia University. He was the executive vice president (1974 to 1994), president (1995 to 2005), vice chairman and president (2005 to 2011) and vice chairman (2011 to present) of FENC. Prior to returning to Taiwan in 1974, Mr. Hsi worked in AT&T, the largest U.S. telecommunication company at the time. Upon his return, he first joined Oriental Chemical Fiber Corporation, which was later merged with Far Eastern Textile Ltd. While managing technical department, he also served as the manager of computer and planning departments. While he led the FEG Purchasing Department in 1980s, he launched a period of reform which revolutionized the procurement process and established computerized system from the ground up with his expertise. He applied the same dedication to the reform and transformation of FENC. Under his leadership, FENC altered the strategic course from cost-centric to profit-centric with performance driven goals to steer close to rapid shifts in market demand. He has been the beacon during this transformative phase, leading FENC to become a more systematic and modernized enterprise. He facilitated the production of the first PET bottle in Asia, and in 1988, the pioneering PET bottle recycling system in Taiwan, setting multiple standards and solidifying leading status in the polyester industry. He guided FENC to accomplish vertical integration, outperforming industry peers with unrivaled competitive advantages. He also expanded strategic deployment, reducing risks by diversifying production sites and expanding business territories from Asian countries such as Taiwan, China, Japan, Vietnam, Malaysia and the Philippines to the U.S. FENC experienced exponential growth under his lead with revenues increasing from NT$20 billion in 1990 to the current NT$250 billion, the highest to date. In 1994, he served as the president of Oriental Union Chemical Corporation, making breakthroughs in technology and materials that generate higher production capacity and reduce costs. Currently, he is the chairman of Everest Textile Co., Ltd. His acute insights of the supply chain structure in the polyester material and petrochemical industries have helped propel FENC to its unsurpassed status in this industry.

Peter Hsu holds a master’s degree of Operations Research from Stanford University. In 1984, he became the head of Ding Ding Management Consultants Co., Ltd. He was then involved in the planning and establishment of information system and facilitating overall data integration within the group. His in-depth understandings of information management accelerated digital transformation as he implemented smart management far ahead of industry peers and improved staff’s digital skills. He plays several concurrent roles within the group that are critical, contributing his expertise and field experiences in information technology. He oversees the undertakings of FENC Procurement Department, FEG Purchasing Department and Information & Technology Center. While building this comprehensive management infrastructure with macro and holistic perspective, he also extends his insights to assist investment businesses such as Asia Cement Corporation and Far EasTone Telecommunications Co., Ltd. , advancing sound management and evolution.

Jeff Hsu holds bachelor’s degrees in history and political science as well as an EMBA from University of Notre Dame. He is also the holder of a master’s degree in Design and Innovation from the Institute of Design at Illinois Institute of Technology. Currently, he is the Chief Innovation Officer of Far Eastern Group, reporting directly to the Chairman and Board of Directors. As he leads innovative changes, he also facilitates modernization and brings ingenuity for group affiliates. He joined the Board of Far EasTone Telecommunications Co., Ltd. in 2015 and accepted the post as executive vice president of U-Ming Marine Transport Corporation (U-Ming) in October 2017, overseeing the operational performance. He has been serving on the board of U-Ming for 10 years, and was elected the board director of Yuan Ze University in 2020. Prior to joining Far Eastern Group, he was a strategy and design consultant in the U.S. with clients ranging from hi-tech startups to Nestles, Denso Automotive, Kia Motors and Target. He was a member of U.S. marine corps. and served as the captain in the infantry regiment for five years, stationing worldwide for combat missions.

Shaw Y. Wang is the executive director of Far Eastern Group Foundation. He joined FENC (then Far Eastern Textile Ltd.) in 1964 and took managerial posts in the accounting and human resources departments, overseeing the entire administrative functions and affairs, including management, communication and innovation to maximize synergistic effects. His macro and holistic vision has helped assemble a solid management team. Mr. Wang also takes on supervisory responsibilities over finance and securities related investment businesses under Far Eastern Group, once serving as executive director at Far Eastern International Bank and managerial position at Oriental Securities Corporation. For over half a century, Far Eastern Group has been dedicated to philanthropic causes, founding three educational institutes, two medical facilities and three foundations. Mr. Wang leads the corporate philanthropic efforts over the years with profound impacts in arts and culture, environmental protection, education promotion, health and lifestyle, social engagement or community care, his leadership has demonstrated corporate commitment to and promotion of philanthropic causes for the long haul.

Richard Yang holds a bachelor degree from the School of Industrial and Labor Relations of Cornell University and master degree in Financial Accounting from Thunderbird School of Global Management in Arizona State University. He joined the board with rich finance and management experience. He served as a financial analyst in asset management in Merrill Lynch Asia Pacific region during 1994 to 1996. Between 1997 and 2000, he entered a British fund management company as global emerging market and institutional fund sales representative. In 2001, he joined Analytica Capital Management as high-tech fund manager. Between 2006 and 2009, he was the managing director of STIC Investments, a Korean private equity firm overseeing investments in the greater China region. Currently, he is the managing director of Surfview Capital and focuses on high-tech hedge funds in Asia. His involvement with Surfview Capital in 2010 during the planning and capital raising stage.

Tonia Katherine Hsu received her bachelor’s degree from Sarah Lawrence College. She is currently a board director of Asia Eastern University of Science and Technology, Far Eastern Memorial Hospital and Far Eastern Y. Z. Hsu Science and Technology Memorial Foundation. She also serves as the advisor to Far Eastern Department Stores Ltd. and tends to international meetings on the company’s behalf. Prior to this, she spent years working with Sotheby’s New York division on global sales of Chinese paintings and calligraphy. She also engages in public arts education at the National Palace Museum in Taiwan and the Metropolitan Museum in New York. She advised galleries featuring Chinese and Korean art. Through her valuable insights, she helped match works of art with prominent museums and private collectors. She also serves on the board of Asian Cultural Council.

Kwan-Tao Li holds a bachelor’s degree from the College of Law of National Taiwan University and LL.M. from New York University. He returned to Taiwan upon graduation and joined Lee and Li Attorneys-at-Law in 1969 while giving lectures on commercial law in the university. The 1970s was the beginning of the golden age of Taiwanese economy. Mr. Li undertook multiple foreign investment projects and applications from high profile foreign banks to establish branches in Taiwan. He was also invited to join the boards of directors of several foreign companies, including 3M, Pfizer, Eli Lilly and Company as well as American Express. In addition to professional undertakings, he obtained an MBA from the joint program of Hong Kong University of Science and Technology and Kellogg School of Management, Northwestern University. He holds multiple board directorships under Far Eastern Group as well as Yulon Motor Co. Ltd. An avid philanthropist, he is currently the chairman of Lee and Li Foundation and on the boards of multiple charity groups.

Alice Hsu graduated from Sheridan College major in retail management. Being well versed in financial planning and design, she took the helm as the president of Far Eastern Department Stores Ltd. (FEDS) in 1995 and served as the president of Fashion Designers Association of R.O.C. Ms. Hsu has amassed over three decades of expertise and know-how in the retail industry. Starting from the entry posts, she served as executive assistant to the president, director of fashion development, branch deputy manager and manager, vice president of product headquarters and president of FEDS. During her tenure as the president of FEDS, she brought transformative reorganization to the corporate structure and human resources, leading the company to gain greater advantages in price competition and product procurement, and continuing to run the sales floors with modern taste and in mega size. She is leading the company to become a retail giant that encompasses boutiques, department stores, hypermarkets and shopping centers. She introduced unique management styles and pioneering approaches, which refined service quality and efficiency. Her leadership has ignited a new company culture and retail transformation, propelling FEDS to a prominent status in the retail sphere in Taiwan.

Champion Lee holds an MBA from Texas A&I University. He joined FENC (then Far Eastern Textile Ltd.) in 1974. After years of experiences in multiple managerial positions of investment and finance departments, he was promoted to senior executive vice president of the finance department of the Company. In 2011, he was named the Chief Financial Officer of Far Eastern Group, an honorary role he held until retirement by 2021. During his tenure at FENC, he played several key roles within Far Eastern Group with positions such as the president of Yuan Ding Co. Ltd., vice chairman of Far Eastern Electronic Toll Collection Co., Ltd., chairman of Far Eastern Industries (Shanghai) Ltd., Air Liquide Far Eastern Ltd. and DWS Far Eastern Investments Ltd. (formerly known as Far Eastern Alliance Asset Management Co., Ltd.). He also served as the owner’s representative and board director of Shangri-La Far Eastern Plaza Hotel. Aside from serving on the Board of FENC, he holds board directorships of Far EasTone Telecommunications Co., Ltd., Asia Cement Corporation, U-Ming Marine Transport Corporation, and he is also the chairman of Kindred Plus Philanthropic Foundation of Taipei.

Shu-Chieh Huang joined Deloitte & Touche, Taiwan (formerly known as T. N. Soong & Co,.) in 1983 as an auditor. His primary clients included Asia Cement Corporation, U-Ming Marine Transport Corporation, Yulon Motor Co., Ltd., Tai Yuen Textile Co., Ltd....etc. Starting from 1994, he served as the District Head of Northern Taiwan in Deloitte & Touche, Taiwan, specializing in servicing clients in high-tech industries including semiconductors, computers and peripherals, optoelectronics, telecommunications, biotechnology…etc. His main clients included Taiwan Semiconductor Manufacturing Company (TSMC), Vanguard International Semiconductor Corporation, Powerchip Semiconductor Manufacturing Corporation, Chi-Mei Optoelectronics Corporation, and more than twenty other listed companies, as well as institutions like the National Health Research Institutes and the Industrial Technology Research Institute. Shu-Chieh Huang’s expertise lies in assisting clients with domestic and international IPO, mergers and acquisitions, issuance of securities, and cross-border investment transactions.

Raymond R. M. Tai Raymond R. M. Tai was graduated from the Department of Foreign Languages and Literature of the National Taiwan University in 1965. The following year, he won an US government grant for 1966 to 1968 to study at the East-West Center for Cultural Exchanges of the University of Hawaii as well as a field study at Columbia University in New York. Ambassador Tai joined ROC foreign service after receiving his MA in American Studies from UH in 1968 and was appointed as Representative of Taipei Representative Office in the UK in 1990 until 1993 during which, with his efforts, the UK Parliament passed a bill entitled "Foreign Corporations Act 1991" which guarantees the legal rights for Taiwan's corporations and financial institutions operating in the UK. Ambassador Tai also helped negotiate the establishment of direct flight between Taipei and London which later led the way for France and Germany to follow suit. In 1993, Ambassador Tai was appointed as the Deputy Secretary-General of the ROC Presidential Office responsible for administrative management and foreign affairs. In 1996, he was appointed as the Ambassador Extraordinary and Plenipotentiary of the Republic of China to the Holy See until 2004. During his tenure, Ambassador Tai had consolidated bilateral diplomatic ties and joined the Holy See's efforts to promote cross-strait reconciliation as well as world peace. For his distinguished public service, Ambassador Tai was decorated by Pope John Paul II and his own government respectively. Immediately after his retirement, Ambassador Tai was conferred with an honorary doctorate degree in Law by Fu Jen Catholic University.

Dr. Way Kuo holds a Bachelor’s degree in Nuclear Engineering from National Tsing Hua University in Taiwan and a Ph.D. degree in Engineering from Kansas State University. He has worked at Bell Labs in the USA, served as the Head of the Department of Industrial Engineering at Texas A&M University, Dean of Engineering at the University of Tennessee, and was a member of the senior management team at the Oak Ridge National Laboratory under the U.S. Department of Energy. He also served as the President of the City University of Hong Kong, where he initiated problem-oriented research innovation, leading the university to rank among the top 100 globally in various rankings.

Dr. Kuo is a member of U.S. National Academy of Engineering and Academia Sinica in Taiwan. His expertise lies in systems engineering, with research focusing on the reliability of electronics and energy systems. He has served as a consultant for IBM and Motorola. Advocating for the separation of politics and education, he has been awarded the International Fellow of the Canadian Academy of Engineering. He was bestowed the title and rank of Chevalier de l'Ordre National de la Legion d' Honneur (Knight of the Legion of Honour) by the President of France and awarded the Cavaliere dell'Ordine della Stella d'Italia (the Knight of the Order of the Star of Italy) by the President of Italy. He was also awarded the medal in Management by the Chinese Management Association (CMA) of Taiwan. His popular science book Critical Reflections on Nuclear and Renewable Energy has been translated into English, Japanese, French, and Russian.

Dr. Chung-Shu Wu graduated from the Department of Economics at National Taiwan University in 1980 and obtained his Ph.D. in Economics from Northwestern University of the USA in 1984. After being promoted to Research Fellow at the Institute of Economics of Academia Sinica in 1989, he spent a year as a Visiting Scholar at Harvard University in the USA. Upon returning to Taiwan, he served as the Director of the Third Division (Finance) and concurrently led the economic forecasting team at the Institute of Economics of Academia Sinica. Since 1988 and 1991, he has respectively served as Taiwan’s representative at LINK (the World Linked Model Organization) and as a consultant for the Asian Development Bank.

Dr. Wu is recognized for his influential scholarship in Taiwan’s economic community and his leadership in policy think tanks. After retiring from Academia Sinica in 2011, he joined CTBC Bank as Chief Economist and was appointed as President of the Chung-Hua Institution for Economic Research. He established the “Center for Green Economy” and the “Southern Branch of the Chung-Hua Institution for Economic Research,” promoting research exchanges with think tanks from various countries during his tenure. He also led the development of the Taiwan Manufacturing and Non-Manufacturing Purchasing Managers’ Indexes (PMI & NMI), which are registered with the Institute for Supply Management (ISM) in the USA, serving as important economic indicators for Taiwan. Since 2018, he has been the Chairman of the Taiwan Academy of Banking and Finance, where he promoted Taiwan’s sustainable taxonomy, served as the convener for sustainable finance evaluation, and established risk indicators for Taiwan’s financial industry. In 2022, he was invited to serve as the Chairman of the Taiwan Institute of Economic Research, and in the same year, he established the “Center for ESG Sustainability Development,” contributing to the ESG transformation of Taiwanese enterprises.

After obtaining the Ph.D. in Operations Research from Stanford University, Dr. Sy-Ming Guu joined Yuan Ze University as a professor. His areas of expertise include mathematical optimization, financial economics, and fuzzy dynamic systems analysis. He has applied operations research methods to healthcare issues. He has been recognized with the Y. Z. Hsu Outstanding Professor Award from the Y. Z. Hsu Science Award, the highest project grant award, and the Outstanding Research Award from the National Science and Technology Council. Dr. Guu has served as Provost and Dean at universities, President of the Operations Research Society of Taiwan, and associate editorship of international academic journals. In the public sector, he has been a member of Research, Development and Evaluation Commission for Taoyuan County Government, a policy advisor for Taoyuan City and Taipei City. He was a member of Taiwan Assessment and Evaluation Association, commissioned by the Ministry of Education for the evaluation of universities (of technology), and the convener for the evaluation of management department of universities of technology.

In the industry, Dr. Guu has served as a director at Far Eastern New Century Corporation and Mytrex Health Technologies, Inc., participating in numerous high-level corporate training programs. He later became the Chairman of Mytrex Health Technologies, Inc., and served as a board member of the Taiwan Nonwoven Fabrics Industry Association and an independent director of GreenFILTEC Ltd.

During the COVID-19 pandemic, Dr. Guu assisted the Taiwan Nonwoven Fabrics Industry Association in establishing a production and distribution mechanism for melt-blown nonwoven fabrics and secured a domestic supply. His outstanding performance was recognized with an award presented by President Tsai Ing-wen.