Chairman & CEO of Far Eastern Group Honored at the Asia Pacific Entrepreneurship Awards 2019
TAIPEI, TAIWAN – Media OutReach – 8 October 2019 – Twelve outstanding Taiwanese entrepreneurs and organisations were honored at the recently concluded Asia Pacific Entrepreneurship Awards 2019 or APEA, led by Far Eastern Group’s Chairman and CEO, Douglas Tong Hsu and Hiwin Technologies Corp.’s Global Chairman and CEO, Dr. Eric Y.T. Chuo at Shangri-La’s Far East Plaza, Taipei.
An initiative by Enterprise Asia, the leading non-governmental organization for entrepreneurship in Asia, APEA is the largest regional recognition program, with over 3,000 nominations received each year, and less than one tenth of that receiving the awards in all 14 markets. With the theme of ‘Promoting Inclusive Economic Development Through Sustainable Entrepreneurship’, over 300 attendees were present at the by-invitation only event, comprising of industry leaders and dignitaries.
Leading the list of winners was Mr. Douglas Tong Hsu, Far Eastern Group’s Chairman and CEO who received the award under Special Achievement Award.
About Mr. Douglas Tong Hsu
Mr. Hsu began his professional career at Citibank, NY, before returning to Taiwan and joining the Far Eastern Group in 1971. In 1979, he was appointed President of FETL (later renamed Far Eastern New Century), and was later appointed to Chairman of the Group. Mr. Hsu holds a B.A. and M.A. from the University of Notre Dame, Indiana, and pursued post-graduate economics at Columbia University. Mr. Hsu also holds an honorary doctorate of management from National Chiao Tung University, Taiwan awarded in 2002.
In 2016, Mr. Hsu was bestowed with the Order of Brilliant Star with Grand Cordon by the President for his contributions to Taiwan. He was also listed as one of the Outstanding Corporate Sustainability Professionals in 2018 by Taiwan Corporate Sustainability Awards. He was named in Taiwan’s Top 50 Best Performing CEOs by Harvard Business Review in 2016 and 2018.
From the Group’s founding motto of “Sincerity, Diligence, Thrift and Prudence,” Mr. Hsu added one vital principle of “Innovation”. According to him, “Scientific and technological innovation creates business opportunities, as well as global competition. As world consumption patterns and competitors are changing, so we must persist in innovation and development to sustain our existence.”
With a passion for high-tech products, Mr. Hsu is watchful of new developments in the high-tech industry. Far EasTone Telecommunications, for example, has in the current high-tech climate now grown into the Group’s largest platform for innovation. “We have not taken the easy road. We have persisted in a very comprehensive system in operations, but without innovation and the ability to overcome challenges, Far Eastern Group would not have reached its current scale,”
While each business unit is administered individually, a rapidly changing and increasingly digitized environment is demanding more connectivity between the group’s constituent parts. “Each business needs to be aligned with the group’s overall corporate governance requirements,” he says. “The companies we own can no longer operate as stand-alone entities. The situation is going to get even more complicated and challenging with the arrival of Artificial Intelligence (AI) and the Internet of Things (IoT).”
The business climate is ever-changing. “We may not have all the answers to what the future has in store, but one thing I am certain will not change is that the Group will adhere to its core values” Mr. Hsu shares. The Group will adapt to new trends and keep abreast of the latest challenges, thus creating new momentum for growth and making the Group a paradigm of a premier global enterprise.