AU Optronics ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced that Mr. Paul S.L. Peng is appointed as the new President of AUO and President of Display Business Operation, effective from January 1st, 2012. To meet the diversified display application developments and prospective green energy business opportunities, AUO's Board of Directors believes that with his profound experience in supply chain and clientele management, Mr. Peng will be able to further enhance the Company's operation efficiency, apply group resources to even more productive uses, and provide clients and end consumers with value-added and superior integrated services, turning a new page for AUO.
Mr. Peng holds an MBA Degree from Heriot-Watt University, U.K. and is a seasoned display industry professional in a variety of specialization fields. In 1990, Mr. Peng worked at BenQ and later headed the Material and Production Department at BenQ's plant in Malaysia. In 1998, he became AUO's Vice President of Supply Chain Management, and in 2001, General Manager of AUO's Suzhou module plant, the Company's first overseas manufacturing facility. Having returned to Taiwan in 2005, Mr. Peng assumed AUO's sales and marketing function, where he was appointed General Manager of IT Display Business Group. In 2008, he was promoted to Executive VP of Global Business Unit, leading TV Business Group, IT Display Business Group, and Consumer Product Business Group. During his tenure, Mr. Peng successfully forged alliance with major customers to jointly invest in module plants, deployed globally, and increased overseas shipment outlets. In 2010, he was further promoted to President of Display Business Operation and steered AUO to become an integrated total solutions provider. In 2011, Mr. Peng was elected the 1st Chairman of the Taiwan Display Union Association (TDUA) and facilitated proactive interactions between the display industry chains across the Taiwan Strait.
Meanwhile, AUO's Board of Directors would like to express gratitude to Dr. L.J. Chen for his contributions as AUO's President over the past years. In the future, Dr. Chen will be dedicated to serve as President of Solar Business Operation and devote fully to the operation of the new green energy business, with the aim of positioning the solar business to become AUO's next critical growth engine. Not only a high efficiency solar product value chain will be established on the manufacturing end, but also global operation and localized services will be practiced in downstream distribution and on the system end for expanded shipment outlets. Efficiency in capital utilization will be increased.
It is the hope of AUO's Board of Directors that in meeting the changes of an evolving global market, the new organization will continue to fortify AUO's competitive edge in products and technologies, turning over a new leaf for the Company and generating the maximum benefits for its shareholders.