The Ministry of Finance yesterday said that professional credentials are what determine its top choices for chief executives of state-run financial institutions, in an attempt to rebut media reports about political intervention.
The clarification came after local Chinese-language media said that political influence was behind leadership reshuffles at First Securities Inc (第一金證券), Mega Securities Co (兆豐證券) and other companies where the ministry controls a majority stake and names senior executives, with approval from the Executive Yuan.
The ministry said that former First Securities chairman Yeh Kuang-chang (葉光章) tendered his resignation after it launched a probe into allegations of mismanagement and misconduct.
The probe would continue, it said, adding that Minister of Finance Su Jain-rong (蘇建榮) handpicked Yeh’s successor, Chen Chih-chuan (陳致全), after factoring in his professional credentials and quality of character.
Media reports have said that appointment decisions had more to do with power struggles between Premier Su Cheng-chang (蘇貞昌) and President Tsai Ing-wen (蔡英文), although Su dismissed the allegations as groundless.
Su said that he conducts a proper review of all candidates for state-run financial institutes, without knowing most of them beforehand.
Mega Securities chairwoman Chen Pei-chun (陳佩君) was approved for her position in 2018 after then-premier William Lai (賴清德) gave his go-ahead, the ministry said yesterday, panning suggestions that Su is pulling strings behind the scenes.
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