Yang Ming, Taiwan’s second-largest liner operator, has announced that its current chairman,
Bronson Hsieh will retire on 1 October, and he will be succeeded by Cheng Cheng-Mount, the current deputy minister of Taiwan's National Development Council.
Through various entities, the Taiwanese government has a stake of approximately 48% in Yang Ming. Since Yang Ming’s listing on the Taiwan Stock Exchange in 1992, Cheng is the company's first chairman to have a non-shipping background.
Hsieh, formerly vice-chairman of Evergreen Marine Corporation, was appointed Yang Ming’s chairman in 2016. Now aged 69, Hsieh is past Taiwan’s retirement age.
The chairman has been assuming more responsibilities since February 2020, when Yang Ming’s former general manager Vincent Lin was reportedly asked to resign.
Cheng holds a master’s degree in economics from the University of Wisconsin-Madison and prior to entering politics, was a research fellow with Taiwan Institute of Economic Research, chief economist at Citibank Taiwan, as well as president of Academy of Banking and Finance and then the Agricultural Bank of Taiwan.