Chunghwa Telecom Co., Ltd. (“CHT” or “Chunghwa Telecom,” TAIEX: 2412, NYSE: CHT) announced that its Board of Directors has approved the appointment of a new Senior Executive Vice President and Chief Financial Officer (CFO). The current CFO, Mr. Vincent Yu-Shen Chen, will return to National Chengchi University after his secondment period concludes. Ms. Audrey Wen-Hsin Hsu from National Taiwan University will assume the role, with the transition set to take effect on September 1, 2024.
Chunghwa Telecom’s Chairman and Chief Executive Officer, Mr. Shui-Yi Kuo, expressed his deep appreciation for Mr. Chen’s significant contributions over the past four years. During his tenure, Mr. Chen was instrumental in overseeing the company’s accounting, finance, and stakeholder communications. He played a pivotal role in the company’s organizational transformation, leading the accounting team in revamping internal controls and cost/managerial accounting systems. These efforts greatly improved the quality of managerial decisions and performance evaluations in the post-transformation period. As the head of the corporate governance team, Mr. Chen was a driving force behind the issuance of the first sustainability bond in Taiwan’s telecommunications industry, the introduction of responsible investment in short-term fund management, and the integration of executive variable compensation with ESG outcomes. His leadership in sustainability initiatives earned the company the top spot in the global telecommunications industry in the 2023 Dow Jones Sustainability Index (DJSI) and significantly improved its MSCI scores and ratings. Mr. Chen’s engagement with both domestic and international investors was recognized by Corporate Governance Asia, earning him the title of Asia’s Best CFO for 2024. On the investment front, he chaired the IPO task forces for CHT Security International and International Integrated Systems Inc., successfully facilitating the listing of these subsidiaries in the capital market. Additionally, he was the founding Chairman of Chunghwa Digital Cultural and Creative Capital, helping the company expand into the cultural and creative industry. As Mr. Chen returns to National Chengchi University, Mr. Kuo hopes that he will continue to contribute to both the country and society.
The newly appointed CFO, Ms. Hsu, holds a Ph.D. in Accounting and Finance from Lancaster University in the UK. She is a Certified Public Accountant in Taiwan and has passed Level 3 of the Chartered Financial Analyst (CFA) exam in the United States. Currently a full-time professor in the Department of Accounting at National Taiwan University, Ms. Hsu has also served as the Associate Dean of International Affairs at the School of Management, the Director of the Global MBA program, and the Secretary General of the Taiwan Accounting Association. During her tenure as Director of the Global MBA program, Ms. Hsu assisted Chunghwa Telecom’s International Business Group in developing global talent. She specializes in financial accounting and has served as a long-term member of Taiwan’s Financial Accounting Standards Board and is currently a member of the Financial Accounting Issues Task Force. Beyond her academic achievements, Ms. Hsu has extensive industry experience, having served as an independent director for a publicly listed high-tech company, a board member of Global Venture Capital Corporation, and a director at Taiwan Insurance Guarantee Fund.
Chairman Kuo emphasized that Chunghwa Telecom is one of the few top-tier Taiwanese companies publicly listed on the U.S. capital market, where the role of the CFO is crucial for international connectivity. As the business landscape evolves, the CFO’s role must also advance. A top-tier company CFO should possess a strategic business mindset, integrating financial management with corporate strategy. By leveraging financial data, the CFO should align strategy, execution, and performance, assisting the CEO in making informed management decisions to maximize company value.
Chairman Kuo further highlighted Ms. Hsu’s extensive academic expertise and industry experience, expressing confidence that she will advance strategic financial management with a business-focused approach. He expects her to enhance corporate governance and help the company achieve its three major visions: becoming an international benchmark enterprise built on sustainable development, becoming a leading brand in the digital co-creation ecosystem, and becoming a first-rate technology group with a market value in the trillions.
