TaiMed

Corporate Governance

The duties of Board of Directors include supervising, guiding management echelon also to appoint and dismiss managers in order to ensure company’s normal operations and creating the best interests for all shareholders. The Board of Directors consists of 15 directors. All of the directors are selected by shareholders’ voting by nomination system. Directors have diverse professional background and extensive business experience, there are one female directors.

Director / James Chang, Ph.D.

CEO, TaiMed Biologics
Ph.D. degree in Chemical Engineering from of University of Washington, Seattle, USA.

Chairman of the Board / Lu-Ping Chow, Ph.D. ,

Representative of National Development Fund., Executive Yuan
Ph.D. degree in Pharmacy from Tokyo University of Science, Japan
Professor, The Institute of Biochemistry and Molecular Biology of National Taiwan University college of Medicine.

Director / Liu Der-Zen, Ph.D.

Representative of National Development Fund., Executive Yuan
Department of Chemical and Materials Engineering, National Central University. Ph.D.
Graduate Institute of Biomedical Materials and Tissue Engineering, Taipei Medical University. Professor.
Medical and Pharmaceutical Industry Technology and Development Center. General manager

Director / Lung-Yeh Cho, CPA

Mr. Cho is currently serving as Special Assistant to Chairman of Ruentex Group.
He received his Bachelor’s Degree in Accounting from National Taipei University, and passed the advanced-level civil service exam for international trade, and the certified public accounting exam.

Director / Tamon Tseng, LLM.

Mr. Tseng joined Ruentex Group in 1992, and is currently serving as Special Assistant to the CEO of Ruentex Industries, Ltd.
Mr. Tseng was called to the English Bar in 1985. He received a B.A. from the University of Cambridge, an LL.M. from University College London, and an LL.B. from National Chengchi University.

Director / Frank Chen

Representative of Chang Chun Investment, Ruentex Group
Master degree in Business Administration from National Taiwan University
Vice General Manager, Investment Management and Special Assistant to Chairman of Ruentex Group

Independent Director / Ming-Ching Chen, Ph.D.

Ph.D. degree in Accounting from Arizona State University, USA
Professor, Department of Accounting, National ChengChi University

Independent Director / Taychang Wang, Ph.D.

Ph.D. degree in Finance from Wharton School, University of Pennsylvania, USA
Professor at Department of Accounting, National Taiwan University

Independent Director / Howard S. Lee, Ph.D.

PhD in Chemistry, University of Southern California, USA
Partner, The CID Group
Chairman, Easywell Biomedicals, Inc.
Chairman, TAHO Pharmceuticals, Ltd.
Chairman, Transwell Biotech CO., Ltd.

1. Regulation for nomination and election

According to TaiMed’s Articles of Incorporation, directors shall be elected pursuant to the candidates nomination system as specified in Article 192-1 of the R.O.C. "Company Law".

(1) nomination system : According to the Article 192-1 of the R.O.C. "Company Law", any shareholder holding 1% or more of the total number of outstanding shares issued by the company may submit to the company in writing a roster of director candidates

(2) elected number of independent directors ： three in accordance with TaiMed’s Articles of Incorporation

(3) the period designated for accepting the roster of director nominees : nomination system as specified in Article 192-1 of the R.O.C. "Company Law" 。

(4) the place designated for accepting the roster of director nominees : TaiMed Finance and Accounting Department (3F., No., 607, Ruiguang Rd., Neihu Dist., Taipei City 11492, Taiwan)

(5) documents submitted : The roster of director candidates shall be annexed with the name, education background and past work experience of the director candidates, the letter of understanding issued by each director candidate to consent to act as director after he/she/it has been elected as such, a written statement issued by each director candidate assuring that he/she/it is not under any of the circumstances set forth in Article 30 of this Act, and other evidential documents executed and provided by each director candidate.

(6)professional qualification: the candidates of independent director shall meet the professional qualification requirements, shares holding, etc set out in the “Regulations Governing Appointment of Independent Directors and Compliance Matters for Public Companies” 。

2. Election process for TaiMed’s Directors ：

At the regular meeting of March 14, 2016, TaiMed’s Board of Directors had approved a total of nine directors (including three independent directors) to be elected at TaiMed's 2016 Annual Shareholders' Meeting. The nomination time period set out from March 21 to March 31, 2016, and TaiMed’s Board of Directors or any shareholder holding 1% or more of the total number of outstanding shares issued by the company may submit to the company in writing a roster of director candidates. All director nominees documents should be sent to TaiMed Finance and Accounting Department (3F., No., 607, Ruiguang Rd., Neihu Dist., Taipei City 11492, Taiwan) for review and approval.

At the meeting of Board of Directors of April 20, 2016, it was reported that the Company received, during the above-mentioned nomination period, the list of director/independent director nominees sent from the Board of Directors. No nomination requests were received from any qualified shareholder. Then the Board of Directors reviewed and approved eight candidates for Board of Directors, including six Directors: Frank Chen, Davis Liu, Lung-Yeh Cho, Dr. James Chang, Dr. Lu-Ping Chow , Dr. Ching-Chow Chen; and three Independent Directors Dr. Ming-Ching Chen, Dr. Taychang Wang, Dr. Jane Hsiao . These nine candidates for Board of Director will stand for election at TaiMed's Annual General Meeting on June 2, 2016.

3. Election results for TaiMed’s Directors

TaiMed's 4th Board of Directors was elected at TaiMed's 2016 Annual Shareholders' Meeting. The six elected directors are: Frank Chen, Davis Liu, Lung-Yeh Cho, Dr. James Chang, Dr. Lu-Ping Chow , Dr. Ching-Chow Chen. The three Independent Directors Dr. Ming-Ching Chen, Dr. Taychang Wang, Dr. Jane Hsiao.

4. Change for Taimed Independent Director

Dr. Jane Hsiao proposed a resignation for TaiMed’s Independent Director at January 1, 2017 due for her personal reason. TaiMed will elect one Independent Director at TaiMed’s 2017 Annual Shareholders' Meeting.

5. Election results for TaiMed’s new Independent Director

The new Independent Director is Dr. Howard Lee.