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.
The passing of Chang Yung-fa, founder of Taiwan’s conglomerate Evergreen Group, has now left his empire facing a succession battle as his sons locked horns to gain control of the group.
The EU has ruled that container lines cannot be make general rate increases (GRIs) more than 31 days in advance, with companies bound by the maximum rate level for period of announcement.
Chang Yung-fa, founder of Taiwan’s Evergreen Group, has passed away this morning at the age of 88, according to Taiwan’s Central News Agency citing a company announcement.
Taiwan’s container carriers Evergreen Marine and Yang Ming Marine Transport Corp have sank into the red in the third quarter, while compatriot Wan Hai Lines has maintained a profit.