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TAIPEI - Chunghwa Telecom Co (NYSE:CHT)., Ltd. (TAIEX: 2412, NYSE: CHT), Taiwan's largest telecommunications company, has announced a change in its executive team with the appointment of Ms. Audrey Wen-Hsin Hsu as the new Senior Executive Vice President and Chief Financial Officer (CFO).
Ms. Hsu, who will assume her new role on September 1, 2024, succeeds Mr. Vincent Yu-Shen Chen, as he concludes his secondment and returns to academia at National Chengchi University.
During his tenure, Mr. Chen made notable contributions to Chunghwa Telecom, including leading the overhaul of internal controls and accounting systems, initiating the issuance of Taiwan's first sustainability bond in the telecom sector, and playing a pivotal role in the company's investment strategies.
His efforts in corporate governance and sustainability led to the company achieving first place in the 2023 Dow Jones Sustainability Index for the global telecommunication industry and improved its MSCI scores and ratings. Mr. Chen's accomplishments earned him the title of Asia's Best CFO in 2024 by Corporate Governance Asia.
Ms. Hsu, the incoming CFO, brings a wealth of experience from both academia and industry. She holds a Ph.D. in Accounting and Finance from Lancaster University, UK, and is a Certified Public Accountant in Taiwan.
Ms. Hsu has a strong background in financial accounting and has held various leadership roles, including Associate Dean of International Affairs at the School of Management and Director of the Global MBA program at National Taiwan University. She has served on the Financial Accounting Standard Board in Taiwan and is a member of the Financial Accounting Issues Task Force.
Chairman and CEO Mr. Shui-Yi Kuo expressed confidence in Ms. Hsu's capabilities to advance the company's financial management and corporate governance, aligning with Chunghwa Telecom's strategic goals.
He emphasized the CFO's critical role in connecting the company internationally and in supporting strategic business decisions to maximize value.
The information for this article is based on a press release statement by Chunghwa Telecom.
InvestingPro Insights
As Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) welcomes Ms. Audrey Wen-Hsin Hsu to the executive team, the company's financial metrics provide a snapshot of its current market position. With a market capitalization of $29.03 billion, Chunghwa Telecom stands as a substantial player in the telecommunications sector. The company's P/E ratio, a key indicator of investor expectations about future earnings, is currently at 25.74, slightly adjusting to 25.41 when looking at the last twelve months as of Q2 2024. This suggests a market sentiment that values the company's earnings at a premium compared to the broader market average.
The company's revenue growth remains modest, with a 1.77% increase over the last twelve months as of Q2 2024. This steady growth is mirrored in the company's quarterly revenue growth of 1.22% for Q2 2024. Chunghwa Telecom's gross profit margin stands at a healthy 36.41%, indicating the company's ability to maintain profitability despite operating costs. Additionally, the company's dividend yield is 3.92%, which is an attractive figure for income-seeking investors, especially when considering the 1.19% dividend growth over the last twelve months as of Q2 2024.
InvestingPro Tips highlight that the company's PEG ratio is currently at -14.28, which may require further analysis by investors to understand the implications on future earnings growth. Moreover, the company's shares are trading close to their 52-week high at 94.92% of the peak price, reflecting a strong market confidence in the stock. For those interested in deeper analysis, InvestingPro offers additional insights with more InvestingPro Tips available on their platform.
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