Evergreen Group succession battle takes 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.