Chairman Huang Su Kuo of China Development Financial Holding Corporation (CDF) Retires, Vice Chairman Paul Yang to Serve as Acting Chairman

Apr 8, 2024
Press Release

Huang Su Kuo, Chairman of China Development Financial Holding Corporation (CDF), has tendered his resignation due to reaching the retirement age of 75. His resignation from the positions of Chairman of CDF and Chairman of its subsidiary, KGI Life Insurance, will take effect on April 9th. Vice Chairman Paul Yang will assume the role of Acting Chairman of CDF, while a director from KGI Life will temporarily carry out the Chairman's duties. CDF has stated that both companies will promptly elect new Chairmen through their respective board meetings.

CDF has acknowledged Chairman Huang Su Kuo's vast management experience and his strong emphasis on corporate governance. He has been known to frequently share strategic insights on business operations with colleagues and motivate them to face challenges in a dynamic environment with a positive outlook and proactive measures. Under his guidance and leadership, CDF and its subsidiaries have consistently enhanced their corporate governance, improved the operations of the board of directors and functional committees, and achieved significant milestones. One such milestone was the renaming of KGI Life on New Year's Day this year, which has strengthened the group's brand image. KGI Life has been recognized as an outstanding performer in the "Fair Treatment of Customers Evaluation" by the Financial Supervisory Commission for five consecutive years and received the prestigious "Insurance Quality Award" from RMIM Insurance Magazine in 2024. Despite numerous persuasions, Chairman Huang Su Kuo, who had planned to retire at 75 even before joining CDF, remains steadfast in following his preestablished retirement plan.

With over 40 years of experience in the financial industry, Chairman Huang Su Kuo is hailed as a pioneer in promoting wealth management in Taiwan's banking industry, earning him the title of "Trust Father" in Taiwan. Before leading CDF, he served as Chairman of China Trust Securities and Taiwan Life Insurance, making significant contributions to the development of wealth management, securities, and insurance industries in Taiwan.

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