Board of Directors
The board of directors has a tenure of 3 years, and in 2023, they were up for re-election. On June 9, 2023, at the annual shareholders' meeting, in accordance with the "Board of Directors Election Regulations," nominations and voting were conducted, resulting in the election of 9 new directors (including 3 independent directors). The board of directors convenes at least once every quarter; in 2023, a total of 8 meetings were held with an average attendance rate of 94.29%. All meeting resolutions are tracked and publicly disclosed on the company's official website.Performance Evaluation of the Board of Directors and the Functional Committee Members
To raise the functionality of corporate governance and the board, according to the "Regulations Governing the Board Performance Evaluation," an annual performance evaluation is conducted for the board, the directors, and the functional task force members. The board members conducted self-assessment and cross-evaluation. The assessment results are reported at the board meeting for improvements. Please refer to our 2023 Annual Report or company website for detailed Board of Directors Performance Evaluation Report.Directors with Diverse Backgrounds
The board of directors comprises members with diverse backgrounds aligned with the company's industry characteristics and development direction. They possess professional expertise in management, financial accounting, agriculture, livestock, law, and financial investment, providing specialized knowledge to support informed decision-making. Currently, there are 2 female directors, accounting for 22% of the board, aimed at enhancing female participation in decision-making.
Read More| Title | Name | Gender | Education | Experience |
| Director | Representative Hung, Yau-Kuen |
Male | 1.Komazawa University 2.Tamkang University, Master’s degree |
Experience 1.Council for Industrial & Commercial Development, Chairman 2.Taiwan Vegetable Oil Manufactures Association, Chairman 3.Taiwan Feed Industry Association, Chairman Position 1.Chairman of Fwusow Industry 2.President of Central Union Oil Corp 3.Chairman of Taiwan Vegetable Oil Manufactures Association 4.Director of Fwusow Hsin Co., Ltd. 5.Chairman of Hua Shao Investment Co. |
| Director | Hung, Yau-Hsin | Male | Komazawa University | Experience/Position 1.Vice Chairman of Fwusow Industry 2.Chairman of Charming Food 3.Director of Central Union Oil Corp |
| Director | Hung, Yau -Chih | Male | Eastern Michigan University, Technology Studies, MS | Experience/Position 1.Director of Fwusow Industry 2.Chairman of Fwusow Hsin 3.AVP of Fwusow Industry |
| Director | Hung,Chun-Lin | Male | High School | Experience/Position 1.Director of Fwusow Industry 2.Chairman of Won Gee Sheng 3.Chairman of Cha Fa Hsin |
| Director | Hung,Chaing-Min | Female | 1.Bachelor Degree in Economics. California State University of Long Beach. 2. Graduate Gemologist in U.S. residence Program. Gemological Institute of America. 3. Graduate Jeweler Gemologist Program with Design and Wax GJG Diploma. Gemological Institute of America. |
Experience 1. Office Manager & Staff Gemologist, International Gemological .Institute (I.G.I.), Los Angeles 2.Staff Gemologist, International Gemological Institute (I.G.I.), Los Angeles 3.Diamond Grader, European Gemological Laboratory (E.G.L.), Los Angeles 4.Summer Internship of Sales, International Business Machine, Taipei Position 1.Director of Cha Fa Hsin 2.Director of Chi Zhi Investment Co.,Ltd. |
| Director | Hung, Yau -Chi | Male | Department of Animal Science and Biotechnology,Tunghai Unversity | Experience 1.Supervisor of Fwusow Industry 2.Remuneration Committee Member of Central Union Logistics Position 1.Supervisor of Fwusow Hsin Industry |
| Independent Director | Fang,Min-Tao | Male | 1.Yew York University L.L.M. 2.George Washington University M.C.L. |
Experience 1.Committee Member of Securities and Futures Bureau, FSC 2.Executive Deputy General Manager of Capital Securities Corporation 3.General Manager of Shearson Lehman Securities Corporation Taiwan Branch 4.Chairman of Shuang Si Paper MFG. Co., Ltd. Position 1.Lawyer,Chongfa International Business Law Firm 2.Independent Director of Chi Sheng Pharma & Biotech Co., Ltd. 3.Independent Director of ReaLy Development & Construction Corp. 4.Supervisor of The Red Cross Society of the Republic of China |
| Independent Director | Yu,Bi | Female | National Chung Hsing Univ.,Ph.D. | Experience 1.Professor & Lifetime Distinguished Professor of National Chung Hsing University Depart of Animal Science 2.Head of National Chung Hsing University Depart of Animal Science 3.Chairman of WPSA Taiwan Branch 4.Director of Agricultural Technology Research Institute (ATRI) Position 1.Adjunct Professor & Lifetime Distinguished Professor of National Chung Hsing University Depart of Animal Science 2.Commissioner of ATRI 3.Paper Audit Commissioner, Produce & Import Permission of Feed & Feed Addictive |
| Independent Director | Huang,Shou-Tsuo | Male | 1.National Cheng Chi University Department of Public Finance,MS 2.Tamkang University Department of Management Sciences,MS 3.Tamkang University Department of Management Sciences,Ph.D. |
Experience 1.General Manager,Taiwan Financial Holdings 2.Director,Bank of Taiwan 3.Director ,Taipei Exchange License Certified Public Accountant |
We adopt "Governance Code of Conduct", "Integrity Code of Conduct", "Procedures for Integrity Management and Guidelines for Conduct" "Ethics Code of Conduct", and "Workplace Guidelines" which explicitly stated that all employees, suppliers and vendors are to practice the principles of fairness and transparency in all business transactions that bribery, corruption and dishonest acts are prohibited. Also, we adopt new laws and regulations and modify accordingly.
To reduce the loss due to employee's misconduct, we insure employees under the business liability insurance with personal performance bond annually. The integrity task force is called upon by the corporate governance manager, responsible for implementing policies and preventive actions, and reports to the board of directors annually.
Also, at both of our company and internal websites, we provide a designated mailbox for the whistleblowers, and a whistleblower protection program is in place which protects the whistleblower's identity and tracks the progress of the concerned issues.
Through meetings, company chat groups and bulletins, we also made relevant announcements to our employees to advocate and educate them about the importance of ethics and integrity.
In 2023, there were no incidents of corruption, dishonesty, or antitrust violations..
Operation of Internal Control
We performed self-assessment in the following five areas: control environment, risk assessment, control procedures, information and communication, and monitoring procedures. Evaluating the potential risks from the external environment and operational aspects, the internal audit team assures that control activities were implemented and effective.
In 2023, we completed 51 audit reports and closed 10 follow-up reports to address deficiencies, in line with our annual audit plan.
Each year, the internal auditors participate in various training programs to enhance their knowledge and capabilities in the area of audit including laws and regulations, tools applications, risk management and internal controls in sustainability reports.
In 2023, two personnel attended an 18-hour pre-internal auditor training course and will subsequently be appointed as internal audit deputies to enhance team expertise.
