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Sampo Appoints New President
Nov 16, 2005
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Sampo Co, Taiwan's number two TV maker, announced it has appointed a high-level executive with financial and consumer electronics backgrounds to be its new president, a position which has been vacant for a year. Afuna Chen was approved in a board meeting to take the helm of the new position on Dec. 1.

Chairman Eric Chen has been doubling as the company's president after Ho Heng-chun resigned in October last year for personal reasons.

"Sampo will be relying on Afuna Chen's expertise and his financial and consumer electronics backgrounds for the company's restructuring and expansion," spokesperson Michael Chen said.

Afuna Chen's main tasks are to improve the performance of Sampo's affiliates, which include the money-losing Sampo Technology Inc and Rechi Precision Co. Rechi resumed trading on the Taiwan Stock Exchange last Wednesday after the company was banned from trading shares in May when management was suspected of embezzlement and accounting fraud.

In the longer term, Afuna Chen will help ensure a fairer arrangement of resources within the firm's various units, forming synergies with partners to focus on core strengths as well as relocating production facilities for greater utilization, Michael Chen said.

In this vein, Sampo is expected to announce a strategic alliance with a Taiwanese IT firm to explore markets in Europe. The synergy will, it is hoped, enhance Sampo's manufacturing, sales and channel capabilities in the region. However, the company refused to disclose further details.

Prior to joining Sampo, Afuna Chen had 18 years of financial expertise, including 16 years with the China Development Industrial Bank, as well as working at Shinkong Financial Holding Co, where he has been vice president since last year.

He started his career with Sony Taiwan, where he spent 14 years overseeing production and planning operations. "I will initiate plans complying with Sampo's latest vision of focusing on brand, channel and services management," Afuna Chen told reporters following the announcement. (Taipei Times)

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