TECO Shareholders' Meeting Election Results: Ten Seats Won by Company Nominees as Expected

TECO Shareholders' Meeting Election Results: Ten Seats Won by Company Nominees as Expected

Image / TECO

TECO (Stock code: 1504) held its shareholders' meeting today (24th) and conducted the re-election of directors and supervisors. A total of nineteen director candidates competed for eleven board seats. The election results were announced at 10 a.m., with ten seats won by the candidates nominated by the company. Chairman Sophia Chiu stated that the election results are as expected and show that the majority of shareholders support the company's business strategy and corporate governance principles. The company has fully secured future management control, ensuring it can create maximum benefits for shareholders.

The elected directors include Sophia Chiu(邱純枝), Cheng-Tsung Huang（黃呈琮）,Show-Shoun Chou(周守訓),Su Chiu Wu(吳素秋),Jong-Chin Shen(沈榮津),Ming-Shien Li(利明献), Chih- Yuan Hou(侯智元). The elected independent directors are Hsieh-Hsing Huang(黃協興), Chao-Chin Tung(童兆勤), Hui-Yiu Chen(陳慧遊), Mei-Chun Chao(趙梅君). Among the eleven elected directors and independent directors, three are women, six are new members, and five are re-elected. TECO pointed out that the election results, with an overwhelming majority of seats won by company nominees, demonstrate stable management control. The new board members are a combination of professionalism and international experience, with expertise in sustainable development, renewable energy industries, digital transformation, smart manufacturing, and organizational restructuring. This alignment meets the expectations of the broad shareholder base and the company's development needs, potentially accelerating the company's progress toward its net-zero sustainability goals and boosting profitability.

During the shareholders' meeting, the profit distribution plan for the fiscal year 2023 was also approved. The company's revenue for 2023 reached NT$59,393,661 thousand, setting a new record. A cash dividend of NT$2.2 per share will be distributed, with a payout ratio of 80%, meeting the dividend policy target set by the previous board.