HSINCHU, April 2, 2008 /Xinhua-PRNewswire-FirstCall/ -- In order to build a more solid framework to meet the continuing challenges of rapid globalization, AU Optronics ("AUO" or the "the Company") (TAIEX: 2409; NYSE: AUO) announced today recent personnel changes to develop its managerial talent pool through on-going job rotations. These new arrangement came into effect as of April 1st, 2008. It is expected that these personnel adjustments will boost organization operations and strengthen AUO's management lineup. This movement will assist in supporting AUO's future globalization strategy.
President and COO of AUO, Dr. L.J Chen, stated that AUO has been active in training managerial talent by means of empowering and exposing them to different areas of operation. The Company has aggressively developed a talent pool with strong and well-rounded portfolio that has enabled AUO to emerge successful through two mergers and industry cycles. Dr. Chen himself is one of the best examples of this, with his experience in over 5 different job areas at AUO. Across-the-board exposure to key areas in manufacturing, sales & marketing, or R&D enables managers' comprehensive thinking to be in tune with both customers and organization needs, so as to face continual change on a global scale.
These new personnel arrangements center on mid- to long-term developments in global operations. Mr. Paul Peng has been promoted to take the position of Executive Vice President of the Global Business Unit, covering the Information Technology Display Business Group and the TV Display Business Group, to reinforce product marketing and customer relations. Mr. F.C. Hsiang has been promoted to Executive Vice President of the Global Operation Unit responsible for global manufacturing and global supply chain. In addition, a new "LED Project Office" has been created to be led by Senior Vice President Dr. David Su.
In the three core business groups of TV, IT and CE, the TV Business Group is also under Mr. Paul Peng. Unchanged, Dr. C.T. Liu leads the Consumer Electronic Business Group, covering business, manufacturing and supply chain of Audio-Video Display and Mobile Display Business Units. Information Technology Business Group is led by Senior Associate Vice President Mr. Michael Tsai, covering the Desktop Business Unit, the Notebook PC Business Unit, and the General Display Business Unit. Mr. Michael Tsai joined AUO in 1997 and was appointed to Senior Associated VP of IT Display Manufacturing in 2007. Mr. Tsai has many years experience in procurement, logistics, production and quality management.
Moreover, the Company appointed Dr. Yong-Hong Lu, previously Vice President of TV Display Manufacturing, to VP of Global Supply Chain Management. Dr. Lu received a PhD in National Chiao-Tung University in Taiwan in 1995, and joined AUO in 1998. In 2002, Dr. Lu took responsibility of generation 5, 6 and 7.5 in fab planning, setup and operations, and was promoted to Vice President in 2007.
Mr. H.B. Chen, CEO of AUO, gives high expectation to this new arrangement. He states that continual organizational change and job rotation play an important role in corporate sustainability. Apart from working towards AUO's future vision and upgrading its competitiveness, Mr. Chen expects this on-going and solid management and leadership training will support AUO to cultivate more excellent talent in business management for future globalization movements.
ABOUT AU OPTRONICS
AU Optronics Corp. ("AUO") is the world largest manufacturer* of large-size thin film transistor liquid crystal display panels ("TFT-LCD"), with approximately 20.3%* of global market share with revenues of NT$480.2 billion (US$14.81billion)* in 2007. TFT-LCD technology is currently the most widely used flat panel display technology. Targeted for 40"+ sized LCD TV panels, AUO's new generation (7.5-generation) fabrication facility production started mass production in the fourth quarter of 2006. The Company currently operates one 7.5-generation, two 6th-generation, four 5th-generation, one 4th-generation, and four 3.5-generation TFT- LCD fabs, in addition to eight module assembly facilities and the AUO Technology Center specializes in new technology platform and new product development. AUO is one of few top-tier TFT-LCD manufacturers capable of offering a wide range of small- to large- size (1.5"-65") TFT-LCD panels, which enables it to offer a broad and diversified product portfolio.
* DisplaySearch 4Q2007 WW Large-Area TFT-LCD Shipment Report dated
Jan 23, 2008. This data is used as reference only and AUO does not
make any endorsement or representation in connection therewith. 2007
year end revenue converted by an exchange rate of NTD32.43:USD1.
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), the world's third largest manufacturer of large-size 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 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 December 31, 2006.
