Corporate Governance

The Company has 7 directors, including 3 independent directors. The terms of office is 3 year. Board of directors are selected based on their professionalism and diverse background, the selected criteria includes business management, business operation, finance and accounting, industrial knowledge, crisis management and leadership skill.

Term of the (6th) Board of Directors: May 28, 2020 to May 27, 2023

Chairman: Sheng Pao-Shi
Work experience and educational background:
Bachelor of Economics, University of California, Berkeley
General Manager, Hoan Pharmaceuticals Ltd.

Director: Shen Shang-Hung
Work experience and educational background:
Department of Electrical Engineering, National Taiwan University
MBA US Emory University
Manager, Electronic Engineering Department, US AT&T

Director: Chen Shih-Min
Work experience and educational background:
Masters, Department of Chemistry, National Chung Hsing University
Business Development Manager, Hoan Pharmaceuticals Ltd.
Product Manager, H.Lundbeck A/S, Denmark
Assistant R&D Project Manager, United Biomedical, Inc., Asia /Assistant Manager, R&D Planning Department, Technology Division
Section Head, Synpac-Kingdom Pharmaceutical Co., Ltd.
Researcher, Medical and Pharmaceutical Industry Technology and Development Center

Director: Chen Kuan-Pai
Work experience and educational background:
MBA, University of Southern California (USC)
Chairman, Hundred River International Investment Corp.

Independent Director: Lin Jui-Yi
Work experience and educational background:
MBA, George Washington University
President, Shung Ye Trading Co., Ltd.

Independent Director: Lai Ming-Jung
Work experience and education background
EMBA, Advanced Finance Program, National Chengchi University
Executive Director, Advisory Department, EY Taiwan
Executive Director, Assurance Department, EY Taiwan

Independent Director: Lee Yi-Chin
Work experience and education background
Master and Ph.D, Resource Planning, Civil Engineering Department, Stanford University
Senior Consultant, McKinsey & Co.
President, China Food Co., Ltd.

Nomination and election of the members of the Company’s board of directors adopts the candidate nomination system in accordance with the Articles of Incorporation, and is in compliance with the "Procedures for Election of Directors" and "Corporate Governance Best Practice Principles" to ensure the diversity and independence of the members of the board.

In accordance with the Company’s Corporate Governance Best Practice Principles, each board member has the necessary knowledge, skill, and experience. To achieve the ideal goal of corporate governance, the board of directors possesses the following abilities:

1. I. The ability to make judgments about operations.
2. II. Accounting and financial analysis ability.
3. III. Business management ability.
4. IV. Crisis management ability.
5. V. Knowledge of the industry.
6. VI. An international market perspective.
7. VII. Leadership ability.
8. VIII. Decision-making ability.

Among the 7 members of the Company’s 7th board of directors, those with the ability to lead, make operational judgments, manage business operations, conduct mergers and acquisitions, conduct transnational investment, manage crisis, and possess industrial knowledge and international market perspective include Sheng Pao-Shi, Shen Shang-Hung, Chen Kuan-Pai and Lin Jui-Yi, and among them, Director Shen Shang-Hung has professional competence in electrical engineering. Director Lee Yi-Chin used to work in an internationally renowned management consulting company and has professional knowledge in global industries and investment analysis. Director Lai Ming-Jong possesses the qualifications and experience of a certified public accountant, and has years of experience as a lecturer in the insurance industry, and expertise in financial accounting, securities insurance and corporate governance. Director Chen Shih-Min has served the Company for years, and his professional knowledge in biotechnology and pharmaceutical and international market perspective are greatly beneficial to the Company’s business operations.

Implementation and achievement of the goals of diversity of the members of the board are as follows:

• Goal: Directors concurrently serving as company personnel not to exceed one-third of the total number of the board members Achievement: 2 directors of the Company concurrently serve as company personnel, constituting 29% of the total number of directors, which is less than one-third of the total number of directors, and the goal is hence achieved.
• Goal: The composition of the board directors shall be diversified, with members having different industrial experience and expertise, so as to achieve the effect of the diversity policy. Achievement: The Company’s directors possess the expertise and experience required for the business operations.