New financial regulator to assume office Dec.1
Taipei, Nov. 28 (CNA) New Financial Supervisory Commission (FSC) Chairman Sean Chen is scheduled to assume office Monday, according to the Executive Yuan.
Chen, a former vice minister of finance who currently serves as chairman of SinoPac Financial Holdings Co., will succeed Gordon Chen as the country’s top financial regulator.
At a time when Taiwan faces a grim economic situation amid a lingering global financial crisis, Sean Chen said his decision to perform public service again is mainly based on his resolve to help the country tide over its difficulties.
The Executive Yuan announced Friday evening that Gordon Chen tendered his resignation Nov.19 for what he called his inability to properly respond to the global financial crisis and that Premier Liu Chao-shiuan approved his resignation only after failed efforts to retain him.
Executive Yuan sources said Gordon Chen’s resignation is only an isolated case which should not be interpreted as the beginning of a major Cabinet reshuffle.
In an interview with the Central News Agency Wednesday, Premier Liu said he will review the lineup of his Cabinet now that six months have passed since the Cabinet was sworn in May 20.
While confirming that he will discuss the possibility of a reshuffle with President Ma Ying-jeou, Liu said the scale and timing for a possible reshuffle have yet to be determined. (By Sofia Wu)
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