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News
Release
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AUO
Board of Directors Appointed Vice Chairman Mr. H.B. Chen as CEO, Dr.
L.J. Chen as President & COO
Issued
by: AU Optronics Corp.
Issued
on: June 29, 2007
Hsinchu,
Taiwan, June 29, 2007 –
AU
Optronics Corp. ("AUO") (TAIEX: 2409; NYSE: AUO) today held its Board meeting,
at which the Board appointed Vice Chairman Mr. H.B. (Hsuan-Bin) Chen
as
Chief Executive Officer and Dr. L.J. (Lai-Juh)
Chen as President & Chief Operation Officer, effective September 1, 2007. It
also announced that Dr. Hui Hsiung, currently Executive VP of AUO, will
resign
effective September 1, 2007 to be the President of Qisda Corporation*,
while
continuing as a member of AUO’s Board of Directors.
Mr.
K.Y. Lee has been re-elected as
Chairman of the
Company since
the
Board meeting on June 13, 2007. Mr.
Lee
is in
a continuing effort to create a world-class
company to the
ultimate benefit of shareholders, through supervising
the management team
and enhancing AUO’s
corporate governance. Under
Chairman Mr. Lee’s leadership, AUO has been proceeding talent cultivation, significant organizational
transformation and restructuring in a planned way, so as to meet the
ever-changing market needs. In addition, AUO has experienced two mergers
over
the past six years, which expedited its professional managers to have
extraordinary and intensive leadership training. The new management team
will
undertake the operation and continue to define
the company’s
new
landscape for next
move. The
Board of Directors today unanimously approved
all the above resolutions
in the meeting.
Mr.
H.B. Chen is currently the President and COO of AUO, and was elected
Vice-Chairman by the Board of Directors on June 13, 2007. After becoming
the CEO
of AUO, Mr. Chen will be responsible for the company’s mid- to long-term
strategic planning and execution as well as customer and business partner
relations. In addition, Mr. Chen will lead the management team and report
to the
Board of Directors directly.
Dr.
L.J. Chen, 44, currently serves as Sr. VP & GM of Global Manufacturing of
AUO. After becoming the President and COO of AUO, he will be responsible
for the
company's corporate strategies and overall business operation. Dr. Chen
joined
Acer Display Technology, Inc., (a predecessor of AUO, established in 1996)
in
1999 and served as Director of Acer Display's Fab 1. After AUO was formed
in a
merger in 2001, he became Associate VP, heading LCD Fabs at AUO's Hsinchu
site.
In early 2003, he was in charge of Desktop Display Business Unit. Over
his
career span, Dr. Chen invented approximately 30 patents in Taiwan and 40
patents
in the U.S. As part of his previous roles, Dr. Chen served in a
variety of areas such as R&D, manufacturing, sales
2
and
marketing,
which consistently demonstrated
his leadership, acute judgment and business acumen to be President, and
he has
developed extraordinary expertise in leading AUO.
Dr.
LJ Chen holds a doctoral degree in Chemical Engineering from National Tsing-Hua
University in Taiwan and an Executive MBA degree in International Management
at
Thunderbird School of Global Management in Arizona, U.S.A.
*
BenQ Corporation is scheduled to change its name to Qisda Corporation on
September 1, 2007.
# # #
ABOUT
AU
OPTRONICS
AU
Optronics Corp. (“AUO”) is one of the top three largest manufacturers* of
large-size thin film transistor liquid crystal display panels (“TFT-LCD”), with
approximately 20.1%* of global market share with revenues of NT$293.1billion
(US$9.0bn)*
in
2006. TFT-LCD technology is currently the most widely used flat panel
display technology. Targeted for 40”+ sized LCD TV panels, AUO’s new
generation (7.5-generation) fabrication facility production started mass
production in the fourth quarter of 2006. The Company currently
operates one 7.5-generation, two 6th-generation, four 5th-generation, one
4th-generation, and four 3.5-generation TFT- LCD fabs, in addition to eight
module assembly facilities and the AUO Technology Center specializes in
new
technology platform and new product development. AUO is one of few
top-tier TFT-LCD manufacturers capable of offering a wide range of small-
to
large- size (1.5”-65”) TFT-LCD panels, which enables it to offer a broad and
diversified product portfolio.
*
DisplaySearch 1Q2007 WW Large-Area TFT-LCD Shipment Report dated May 5,
2007. This data is used as reference only and AUO does not make any
endorsement or representation in connection therewith. 2006 year end revenue
converted by an exchange rate of NTD32.59:USD1.
Safe Harbour
Notice
AU
Optronics Corp. (“AUO”
or the “Company”)
(TAIEX: 2409; NYSE: AUO), the world’s
third largest manufacturer of
large-size TFT-LCD panels, today announced the above news. Except for statements
in respect of
historical matters, the statements contained in this Release are “forward-looking statements”
within the meaning of Section
27A
of the U.S.
Securities Act of 1933 and Section 21E
of the U.S.
Securities Exchange Act of 1934. These
forward-looking statements were based on our management's expectations,
projections and beliefs at the time regarding matters including,
among other
things, future revenues and costs,
financial performance, technology changes, capacity, utilization rates,
yields,
process and geographical diversification, future expansion plans and business
strategy. Such forward looking statements are subject to a
number of known and unknown risks and
uncertainties that can cause actual results to differ materially from those
expressed or implied by such statements, including risks related to the
flat
panel display industry, the TFT-LCD market, acceptance and demand
for our products, technological and
development risks, competitive factors, and other risks described
in the section
entitled
3
"Risk
Factors" in our Form 20-F filed
with the United States Securities and Exchange Commission on June 1st,
2006.
FOR
MORE
INFORMATION
For
more
information, please contact:
Rose
Lee
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Yawen
Hsiao
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Corporate
Communications Dept
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Corporate
Communications Dept.
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AU
Optronics
Corp
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AU
Optronics
Corp.
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Tel: +886-3-5008899
ext 3204
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+886-3-5008899
ext 3211
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Fax:
+886-3-5772730
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+886-3-5772730
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Email:
rose.lee@auo.com
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yawen.hsiao@auo.com
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