Taiwan Stock Exchange Chairman to Be Minister Without Portfolio

Schive Chi, Taiwan Stock Exchange chairman since 2008, will become a government minister without portfolio as part of an executive branch shake-up that started on Jan. 31.

Schive, 65, will focus on finance and economic issues, the Cabinet said in an e-mailed statement today.

The leadership changes follow Vice Premier Jiang Yi-Huah’s promotion to premier and the planned re-appointment of central bank Governor Perng Fai-Nan to a fourth five-year term. Taiwan President Ma Ying-jeou is battling a 14 percent approval rating as he seeks to strengthen an economy that grew at the slowest pace in three years in 2012.

Taiwan’s Cabinet can have as many as nine ministers without portfolio handling areas from labor policy to agriculture to sports to science and technology development.

Schive was formerly the vice chairman of the Council of Economic Planning and Development, president of the Taiwan Academy of Banking and Finance, and chairman of the Department of Economics at National Taiwan University.

The government is yet to announce Schive’s replacement as stock-exchange chairman, Michael Lin, senior executive vice president and the spokesman of the Taiwan Stock Exchange, said by phone today.

To contact the reporter on this story: Chinmei Sung in Taipei at csung4@bloomberg.net

To contact the editor responsible for this story: Debra Mao at dmao5@bloomberg.net

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