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Update Date: "2011/03/27 23:01"
Controversy over "fat cats" in state-owned enterprises continues, with legislators pointing out that too many high-ranking officials at Taipower are "fat cats." Many chairmen and vice presidents immediately take up key positions in Taipower's subsidiaries or sub-subsidiaries after retiring from Taipower. Some even receive over NT$500,000 per month after retirement—higher than the president's salary. However, in response to the controversy, the Ministry of Economic Affairs surprisingly stated that "there are no laws to regulate this."
Legislators revealed the data of Taipower retirees, showing a long list of former chairmen, vice presidents, or chief engineers who took positions in Taipower-affiliated companies after retirement—undisputed "fat cats"!
Lin Wen-yuan, who served as Taipower chairman for only 65 days, later became chairman of Taiwan Cogeneration Corporation, Singyuan Power, and Singneng Power until 2008. Similarly, Lin Ching-chi stepped down as chairman and then served as chairman of Singyuan and Singneng until now. Du Yueh-yuan, the recently retired chief engineer and spokesperson of Taipower, also transitioned to become vice president of Taiwan Electric & Machinery.
Regarding Taipower retirees who "retire but don't quit," Taipower responded that improvements have been made following last year's new Executive Yuan regulations. Retirees aged 65 or older cannot serve as chairmen or general managers in subsidiaries, but sub-subsidiaries are not restricted. Additionally, positions like consultants or vice presidents are not regulated. However, such "improvements" are unlikely to satisfy taxpayers. To shed the "fat cat" image, state-owned enterprises must still strive to avoid even the appearance of impropriety.
Source: http:/ / tw. news. yahoo. com/ art……url/ d/ a/ 110327/ 11/ 2osdz. html
TaiPower Fat Cats Retire but Keep Earning $500K Monthly
Controversy over "fat cats" in state-owned enterprises continues, with legislators pointing out that too many high-ranking officials at Taipower are "fat cats." Many chairmen and vice presidents immediately take up key positions in Taipower's subsidiaries or sub-subsidiaries after retiring from Taipower. Some even receive over NT$500,000 per month after retirement—higher than the president's salary. However, in response to the controversy, the Ministry of Economic Affairs surprisingly stated that "there are no laws to regulate this."
Legislators revealed the data of Taipower retirees, showing a long list of former chairmen, vice presidents, or chief engineers who took positions in Taipower-affiliated companies after retirement—undisputed "fat cats"!
Lin Wen-yuan, who served as Taipower chairman for only 65 days, later became chairman of Taiwan Cogeneration Corporation, Singyuan Power, and Singneng Power until 2008. Similarly, Lin Ching-chi stepped down as chairman and then served as chairman of Singyuan and Singneng until now. Du Yueh-yuan, the recently retired chief engineer and spokesperson of Taipower, also transitioned to become vice president of Taiwan Electric & Machinery.
Regarding Taipower retirees who "retire but don't quit," Taipower responded that improvements have been made following last year's new Executive Yuan regulations. Retirees aged 65 or older cannot serve as chairmen or general managers in subsidiaries, but sub-subsidiaries are not restricted. Additionally, positions like consultants or vice presidents are not regulated. However, such "improvements" are unlikely to satisfy taxpayers. To shed the "fat cat" image, state-owned enterprises must still strive to avoid even the appearance of impropriety.
Source: http:/ / tw. news. yahoo. com/ art……url/ d/ a/ 110327/ 11/ 2osdz. html