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Evergreen Group succession battle takes another turn

Evergreen Group succession battle takes another turn
Evergreen Marine Corporation has announced that Chang Kuo-wei, the youngest son of the late founder Chang Yung-fa, has left the company’s board of directors, as the succession battle to control Evergreen Group took another turn.

Container shipping firm Evergreen Marine is part of the Taiwanese conglomerate Evergree Group, which has been embroiled in a succession battle among the sons of Yung-fa, who passed away in January.

Kuo-wei’s seat on Evergreen Marine’s board of directors will be filled by Hsieh Huey-chuan, the company stated.

Daniel Song, Kuo-wei’s attorney, told the China Post that his client was no longer seeking control of the conglomerate and instead hoped to start his own business.

Song was reported saying that Kuo-wei was willing to dispose of his entire stake in the family enterprise to his elder brothers, with the intention of making a clean break.

Since the death of Yung-fa and an Evergreen statement released publicly naming Kuo-wei as chairman and heir, Kuo-wei has been fighting a succession battle with his three half-brothers including Chang Kuo-hua.

Kuo-hua and the two brothers used their combined voting power to dissolve the position of the new Evergreen Group chairman, and ousted Kuo-wei as chairman of Eva Airways.

Kuo-wei is the only child from Yung-fa’s second wife, while the three elder sons are from the first wife.