Taiwan Mobile Co (台灣大哥大) yesterday named AppWorks Venture (之初創投) cofounder Jamie Lin (林之晨) to succeed president James Cheng (鄭俊卿) as part of the telecom operator's broader efforts to transform itself into a technology-oriented company in the upcoming 5G era.
Lin is to take over from the 65-year-old Cheng on April 1. Lin is retiring.
The announcement of Lin’s appointment at the second-biggest telecom in the nation comes about one-and-half months after Far Eas-Tone Telecommunications Co (遠傳電信) tapped former AT&T Inc executive Chee Ching (井琪) to be its new president.
Lin has set a goal of joining the ranks of the world’s top 100 enterprises and boosting Taiwan Mobile’s market value to US$100 billion, about 10 times its current market value.
Based on the company’s share price of NT$109.5 yesterday, its current market value is NT$374.49 billion (US$12.18 billion).
“Ushering in the 5G era, Taiwan Mobile aims to transform itself into a new-generation telecom and a provider of technologies,” chairman Daniel Tsai (蔡明忠) said in a statement.
“To achieve that goal, Taiwan Mobile needs to rejuvenate its management and corporate culture as well as to draw in younger-generation customers,” Tsai added.
Tsai approached Lin about the job two months ago.
The company said it intends to leverage Lin’s experience at AppWorks in spurring innovation and resources integration, as well as his fundraising abilities.
The 41-year-old Lin, who was named an independent director on the telecom’s board in June last year, will help the company create new ecosystems in Taiwan and expand its market reach to Southeast Asian nations, it said.
Lin’s joining the board last year triggered speculation about his role on the board, as the National Taiwan University chemical engineering graduate had never held a job in the telecom industry.
Like many of its peers, Taiwan Mobile is keen to embrace 5G technology, which is be launched commercially in several developed countries later this year, to transform itself into a technology-oriented firm.
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