Chang Kuo-wei Named in Father’s Will to Head Evergreen Group

 Chang Kuo-wei Named in Father’s Will to Head Evergreen Group

 Sources: All Taipei newspapers

 February 19, 2016

Chang Yung-fa (張榮發), founder of the Evergreen Group and a world-renowned shipping tycoon, passed away at the age of 90 last month. His last will and testament was opened and read out two days ago. 

According to informed sources, Chang’s will, which he set up in 2014, in his own handwriting, was read out by his lawyer to his four sons, confirming that Chang Kuo-wei (張國煒), chairman of the EVA Airways Corp. and vice chairman of the Evergreen Group, would succeed his father as chairman of the Evergreen Group, while retaining his chairmanship of EVA Air. Moreover, Chang Kuo-wei would also inherit his father’s deposits, stocks, and real estate. 

The will also requested that three other vice chairman of the Evergreen Group assist Kuo-wei in running the conglomerate’s daily business operations. 

However, Chang Yung-fa’s three other sons issued a statement expressing regret that Chang Kuo-wei revealed the contents of their father’s will without seeking their consent in advance. 

The will also stated that the Evergreen Group and its affiliated enterprises should continue to donate a certain percentage of their profits to the Chang Yung-fa Foundation to support charitable activities. 

Chang Yung-fa had three sons and one daughter with his first wife, who passed away in 2013. His daughter also passed away prior to his death. Chang Yung-fa took a common-law wife, and had with her only one son, Kuo-wei, who is the only son currently holding a high-executive position in the Evergreen Group. The other three sons are merely board members. The common-law marriage was legalized in 2014 when Chang’s first wife died. 

The Evergreen Group confirmed that the founder had set up the will to appoint Chang Kuo-wei to take over the chairmanship. The statement noted, “The other heirs are still negotiating. However, ensuring sustainable operations of all Evergreen affiliated corporations is the priority, and the results will be announced to the public after all relevant matters are settled.”

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