Evergreen Group’s main holding company, Evergreen International (2716-TW), today (6) elected a new chairman, who was won by Zheng Shenchi, the representative of Kaiming Investment, who was nominated by the younger brother, who lost his dominance over Evergreen International. It is only the first step for the younger brother to win the management rights of the main subsidiaries of the group. Next, including Evergreen Steel (2211-TW), EVA Air (2618-TW), Evergreen Shipping (2603-TW) and other important subsidiaries, the management rights may change.
Evergreen International is the major shareholder of many companies in the Evergreen Group, and it is also the golden hen of the group. It holds 21.69% of the shares of Evergreen Steel, making it its largest shareholder.2607-TW) holds 8.45% of the shares, both of which are its second largest shareholder, holds 4.98% of Evergreen Shipping, and is also its third largest shareholder, that is, the dominance of Evergreen International, which is equivalent to grasping Evergreen International’s important discourse to other group companies right.
According to market analysis, once Evergreen International changes, the younger brother is likely to pursue the victory and launch the battle for the management rights of the major listed companies under the Evergreen Group. Next year, the election of directors and supervisors of Evergreen Airlines and Evergreen Shipping will be the biggest highlight.
As for the latest wave of brothers fighting for management rights, all circles are concerned that Evergreen Steel will conduct director re-election on June 10. At that time, 7 directors will be re-elected. It is rumored that a power of attorney war has been launched.
In particular, Evergreen Steel currently holds 4.21% of Evergreen Airlines, and Evergreen Sea also holds 14.77% of Evergreen Airlines. I am afraid that changes in the management rights of various Changrong Group companies will affect the whole body.
However, regarding the various disputes between the brothers, Zheng Shenchi has stated to the outside world that this time he was entrusted by most of the bereaved family of the late founder, Mr. Zhang Rongfa, to be the chairman of Evergreen International. Abandon prejudice, treat each other sincerely, and seek common solutions to achieve the founder’s wish of brotherhood unity.