The Concurrent Development of Display and Solar Businesses Turns Over a New Leaf
HSINCHU, Oct. 8 /PRNewswire-Asia/ -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) announced its new organization arrangement effective today. To ensure sustainable enterprise operation, long-term development, and to enhance the effectiveness of the management team, AUO will actively develop the Display and Solar businesses in parallel as the twin engines for future growth and dedicate wholly to their respective fields. Meanwhile, AUO is honoring the outstanding next-generation of professional managers with the promotion of four new vice presidents, to instill fresh impetus into the organization.
Under the new organizational structure, AUO will operate based on two core businesses of Display and Solar. Each business will have its own production, R&D, as well as sales and marketing functions, with dedicated team force, to meet the different industry demands for the proactive development of the two core businesses in parallel. The Display business will be handled by Mr. Paul Peng, Executive VP who is familiar with the panel industry. Due to the strategic role of the Solar business to AUO's future positioning in the green energy industry and its long-term importance, the Solar business will be led by Dr. L.J. Chen, the President.
AUO has long implemented corporate governance and continues to conduct organizational change and talent cultivation to respond to the rapid industry developments and new business demands. Four new Vice Presidents with excellent performance emerged and they are: Display business, Dr. Frank Ko, who will be in charge of the TV Display Business Group; Mr. K.P. Chu will be in charge of the Global Supply Chain Management; for the Solar business, Mr. James Chen, who will be in charge of Solar Business Group; and Mr. Shih-Kun Chen, will be in charge of Global Solar Manufacturing. To further implement the deputy system, Mr. Max Cheng will serve as acting President and assist in the relevant matters relating to the development of the Solar business.
The Company has long actively cultivated promising talents. The Company hopes that, with the joining of the next generation of professional managers and dedicated organizational structure, this will further fortify AUO's operation efficiency and create the maximum benefits for the shareholders, turning over a new leaf for the Company's two core businesses.
ABOUT AU OPTRONICS
AU Optronics Corp. (AUO) is a global leader of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers with a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 65 inches. AUO generated NT$359.3 billion (US$11.2 billion) in sales revenue* in 2009 and now houses a staff of more than 42,000 employees, with global operations in Taiwan, Mainland China, Japan, Singapore, South Korea, the U.S., and Europe. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO extended its market to the green energy industry in late 2008, and formally founded its Solar Business Unit in October, 2009. For more information, please visit AUO.com.
Safe Harbour Notice
AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on May 11th, 2010.
