AUO announced today that Mr. KY Lee has resigned as Chairman of AUO. AUO's Board of Directors appointed Mr. Paul SL Peng to serve as AUO's Chairman and President, effective immediately.

After resigning as Chairman of AUO, Mr. Lee will continue to serve as a member of the Board of Directors and to guide the group's transformation and integration. "AUO has established a solid management succession plan. I am very confident that the newly appointed Chairman, Mr. Peng, and the management team will continue to take AUO forward and move to the next stage of growth, " says Mr. Lee, the Founder and a board member of AUO.

AUO's Board of Directors and the company's employees deeply appreciate Mr. Lee's long-term contribution and commitment to the Company. Mr. Lee founded AUO in August 1996. Under his leadership, AUO went through two mergers and acquisitions, with the multiplier effects that have enabled the Company to grow rapidly and built the company into one of the world's leading TFT-LCD manufacturers. Not only did he lead AUO to achieve several important milestones, but he also helped to drive the development of Taiwan's TFT-LCD and optoelectronics industries. In addition, Mr. Lee has long-term proactively encouraged internal corporate entrepreneurship, cultivation of core talents, and the inheritance of corporate experiences. He has made countless important contributions to the Company and to Taiwan's technology industry.

AUO's Board of Directors expressed that since Mr. Peng assumed the role of the President of AUO, he has successfully led the management team to carry out the technological upgrades and product differentiation, and has proactively adjusted the Company to a more effective business structure, enabling AUO to return to profit. Under his leadership, it is widely recognized that the Company’s operating efficiency and profitability have improved considerably. AUO's Board of Directors hopes that Mr. Peng will continue to lead AUO to grow consistently and steadily, and to create the greatest value to the Company's shareholders, customers, and employees. It is also hoped that his leadership will make AUO, which is entering its 20th Anniversary year soon, to soar to a new height.