Yang Ming has elected Cheng Cheng-Mount, the current deputy minister of Taiwan's National Development Council, to succeed Hsieh Chih-Chien as its Chairman and Chief Executive Officer effective October 1.
The Taiwan-headquartered shipping company made the announcement following its 351st board meeting.
Cheng Cheng-Mount held various executive positions prior to this appointment.
He was Chief Economist at Citibank Taiwan Limited, was the President of Academy of Banking and Finance, the President of Agricultural Bank of Taiwan, the Vice Chairman of Financial Supervisory Commission, and the Deputy Minister of National Development Council.
He also served as an adjunct associate professor in the Department of Finance at National Chengchi University.
Cheng Cheng-Mount was appointed by the National Development Fund, Yang Ming’s second-largest shareholder, to join the Board of Directors at Yang Ming since 2018.
"During the past two years, he has become acquainted with Yang Ming’s operations and strategies. With his extensive experiences and financial professions, Chairman Cheng obtained the approvals from all board members to take up the position of Chairman and Chief Executive Officer of Yang Ming," the shipping company said in a statement.
"It is anticipated that Chairman Cheng’s leadership will take Yang Ming to the next level of growth and success," it added.
Hsieh Chih-Chien, better known as Bronson, will retire on 1 October, after being in the position since 2016. He was also formerly the vice-chairman of Evergreen Marine Corporation.
At 69, Hsieh is past Taiwan’s retirement age.