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2024-08-01
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Chairman Canon Huang Named to Harvard Business Review's 2024 Taiwan Top 100 Best-Performing Business Leaders
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Harvard Business Review has released its biennial ranking of "Taiwan Top 100 Best-Performing Business Leaders," and this year, Chairman Canon Huang of CWE Group has once again made the list, after being included in the "Taiwan Top 100 CEOs" in 2022. Chairman Huang has led Chang Wah Electromaterials to become a model enterprise that excels in both business performance and sustainable development. His remarkable management achievements have earned widespread acclaim and recognition.
The "Taiwan Top 100 Best-Performing Business Leaders" in the global Traditional Chinese edition of Harvard Business Review follows the same survey methodology as the global "Top 100 CEOs" in the U.S. edition, with local adjustments for Taiwan. It has become the largest and only performance survey that focuses on the individual achievements of leaders of publicly listed companies in Taiwan. The latest survey results were revealed on July 31, 2024, followed by an awards ceremony. The event featured a special address by Jyh-Huei Kuo, the Minister of Ministry of Economic Affairs, who also presented the awards. Nearly 70 Taiwanese business leaders were present to receive their honors.
After receiving the award from Dr. Charles Kao, founder of the Global Views - Commonwealth Publishing Group, Chairman Canon Huang delivered a brief speech. He stated that the semiconductor industry is currently attracting global attention in Taiwan. In fact, the foundation of Taiwan's semiconductor industry was laid with back-end packaging, and CWE began by representing Sumitomo Bakelite's packaging materials from Japan. Although the Company is not large, it plays a key role in Taiwan's back-end packaging industry as well as the broader semiconductor sector. Today, as the semiconductor industry continues to evolve, much attention is focused on succession planning. However, ensuring a smooth transfer of ownership is equally critical. The transfer process is complex and involves tax considerations, which, if not managed carefully, could adversely affect shareholders' interests.
CWE Ranks First in the Top 10 Companies That Generate the Most Profit for ShareholdersAccording to the 2024 "Taiwan Top 100 Best-Performing Business Leaders" survey, CWE stands out as the top performer in terms of cumulative total shareholder return (TSR) during the tenures of the business leaders. Established 35 years ago, CWE has consistently followed a prudent dividend policy, distributing cash dividends for 24 consecutive years. Based on a par value of NT$10 per share, the Company has cumulatively distributed NT$205.19 in dividends over the past 24 years - more than 20 times its capital. Additionally, CWE has achieved 11 consecutive years of growth in cash dividends, contributing to its leadership in cumulative TSR.
The 2024 "Taiwan Top 100 Best-Performing Business Leaders" survey focuses on publicly listed companies and follows a methodology aligned with its U.S. headquarters. The survey starts by selecting the top 300 companies based on market value using data from the Taiwan Stock Exchange, and includes CEOs who remain in office as of April 30, 2024. A total of 213 leaders from these companies met the criteria and were included in the ranking. From this group, the top 100 leaders were chosen for the 2024 "Taiwan Top 100 Best-Performing Business Leaders."
In recent years, ESG (Environmental, Social, and Governance) has become a key focus both internationally and in Taiwan. Since the 4th edition in 2022, the survey has incorporated ESG performance alongside three financial indicators: market capitalization growth, cumulative TSR, and average annual after-tax EPS during the CEO's tenure. The final score is calculated based on two components, with the "financial aspect" accounting for 85% of the score and "ESG performance" accounting for 15%, and the combined score determines the ranking. The same methodology has been applied to the 2024 fifth edition of the survey.
Source: Global Views．Harvard Business Review