The chairman of the scandal-ridden food maker Ting Hsin International Group, Wei Ying-chiao, resigned on Tuesday as vice chairman and CEO of Taipei Financial Center Corp. (TFCC). That’s the company that runs the landmark skyscraper commonly known as Taipei 101.
Taiwan's Ministry of Finance said that Wei's resignation was effective immediately.
The TFCC board is set to hold a meeting to discuss Wei’s replacement. In the meantime, Chairwoman Christina Sung will fill in as CEO.
The government has sway in the matter because it controls six of the 13 seats on TFCC's board of directors.
Wei's Ting Hsin International Group is the TFCC's biggest private shareholder, controlling five of the seats on the board.