The Taiwan Monthly

Aug. 2021

Corporate Governance

All TWSE listed companies should appoint a Chief Corporate Governance Officer before June 30, 2023.

In accordance with the "Corporate Governance 3.0 -Sustainable Development Roadmap" released by the Financial Supervisory Commission (FSC), Article 20 of the "Corporation Operation Directions for Compliance with the Establishment of Board of Directors by TWSE Listed Companies and the Board's Exercise of Powers" is amended to strengthen the function of the board of directors and enhance the sustainable value of enterprises. All TWSE listed companies are required to appoint a chief corporate governance officer before June 30, 2023. We advise these companies to prepare in advance.

 

A total of 434 TWSE listed companies with a paid-in capital of NT$2 billion or more and within the financial and insurance industry required by the competent authorities have already appointed the chief corporate governance officer before June 30, 2021. The total number of listed companies that do not fall within the above-mentioned scope and have voluntarily established a corporate governance director is 154. This amendment shall further include TWSE listed companies with paid-in capital of less than NT$2 billion and not within the financial and insurance industry. Companies under these criteria are required to appoint a corporate governance director before June 30, 2023. An estimated number of 365 additional companies are expected to fall within this scope.

 

For further inquiries, please contact Ms. Huang at 0819@twse.com.tw .