Once a rising star, Chi Mei Lighting is now knee deep in debt with no help on
the horizon by its two wealthy shareholders Foxconn Electronics and Chi Mei
Corp. Founder and chairman of Foxconn Terry Gou wholeheartedly supports his
affiliate company Advanced Optoelectronic Technology (AOT) but has washed his
hands of Chi Mei’s financial crisis. Chi Mei Corp also refuses to meddle with
Chi Mei’s depreciating assists. Before Chi Mei went out of business, the
company’s entire executive staff deserted the company leaving it high and
dry.
After the establishment of Chi Mei Lighting, Ching-siang Liao was appointed as chairman of the fledgling company and executive vice president of Chi Mei Optoelectronic Corp (CMO) Biing-seng Wu was given the position of GM. Notable investments and talent for headhunting lured many within the industry over to Chi Mei Corp’s side. Numerous technology companies that had once merged with Epistar, South Epitaxy Corp and UMC later left and chose to become part of CMO.
With the full backing from Chi Mei Corp, Chi Mei Lighting was in its heyday.
After a strong turnaround in profit in early 2008, Ching-siang Liao boasted that he planned to invest NT$10 billion within the next 5 years, taking the throne from Epistar. In a surprising turn of events however, the financial crisis peaked at the end of 2008, effecting CMO’s operations and later that of Chi Mei Lighting’s. After the merger of CMO and Innolux in 2009, circumstances had made a complete 180. Chi Mei Corp completely left Chi Mei Lighting by the wayside.
After the establishment of Chi Mei Lighting, Ching-siang Liao was appointed as chairman of the fledgling company and executive vice president of Chi Mei Optoelectronic Corp (CMO) Biing-seng Wu was given the position of GM. Notable investments and talent for headhunting lured many within the industry over to Chi Mei Corp’s side. Numerous technology companies that had once merged with Epistar, South Epitaxy Corp and UMC later left and chose to become part of CMO.
With the full backing from Chi Mei Corp, Chi Mei Lighting was in its heyday.
After a strong turnaround in profit in early 2008, Ching-siang Liao boasted that he planned to invest NT$10 billion within the next 5 years, taking the throne from Epistar. In a surprising turn of events however, the financial crisis peaked at the end of 2008, effecting CMO’s operations and later that of Chi Mei Lighting’s. After the merger of CMO and Innolux in 2009, circumstances had made a complete 180. Chi Mei Corp completely left Chi Mei Lighting by the wayside.
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