Lite-On Technology Board of directors has appointed Warren Chen, current Group CEO of Lite-On Technology as Vice Chairman and Group CEO of Lite-On Technology, effective from July 1st, 2014. 

At the company's annual general meeting for 2014, shareholders approved Lite-On’s fiscal year 2013 results and distribution of a NT$2.76 (US $0.09) dividend per common share. Of that sum, the cash and stock dividend portions will be NT$2.71 and NT$0.05 per share respectively. The payout ratio and cash dividend yield are 72 percent and 5.5 percent, in line with the company’s high and stable payout ratio.

Warren Chen, CEO and Vice Chairman of Lite-On Technology. (LEDinside/Lite-On)

Facing the rapid paradigm shift in the global information and communication technology industries, Lite-On has already started implementing strategic allocation and innovative transformation for product portfolio optimization. As a result, even with the harsh challenges of the global market, Lite-On has continued with its stellar operating performance by achieving a global consolidated revenue of NT $213.2 billion in 2013. The six major growing non-PC-related products comprised 40% of the overall revenue, which in turn brought net profits of NT$8.75 billion with earnings per share (EPS) of NT $3.83, up 18 percent YoY. 

“This year marks the 40th anniversary of Lite-On Technology,” said company Chairman Raymond Soong. “Starting in late 2013, Lite-On began the ‘seven into one’ project as well as its acquisition of Dun Young that officially kicked off the ‘One Lite-On’ project this year. Lite-On’s Board of Directors believes that with the profound experience of the management team in the global supply chain and clientele management, the company will continue to enhance the operational efficiency, apply group resources to higher productive uses, and provide clients and end consumers with value-added and superior integrated products and services, as well as shareholders’ value.”

Lite-On Chairman Raymond Soong hosting the board meeting. (LEDinside/Lite-On)

Looking at 2014, the economic development of the European and emerging markets are showing positive signs. Lite-On will continue to be prudentially optimistic while facing heavy competition from the global market, standing firm on the fundamentals of “innovation and execution” to enhance its core competitive competence. Additionally, Lite-On will strive to find a world-class leading position for its core business and seek differentiation from its competitors. At the same time, profit increase will remain the main target as Lite-On moves a step closer to its vision of becoming a centenarian corporation.