Feeds

Mosel Vitelic CFO steps down in wake of poor figures

Shares continue to slip and slide

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

The rocky ride at DRAM maker Mosel Vitelic continues after the Taiwanese company lost its chief financial officer, William Chen, yesterday. Chen's departure sent shares in Mosel Vitelic plunging to their lowest point since 11 October, falling 2.8 per cent in one day - which adds up to an 8.1 per cent drop over two days.

Only last week, Mosel announced that it had lost NT$3.5 billion ($110 million) in the first nine months of the year. This loss means Mosel is the second largest loss maker out of more than 600 companies listed on Taiwan's main index. The company blamed the glut of DRAM chips earlier this year - and the corresponding fall in prices - for its troubles.

According to the Bloomberg newswire, Chen may have quit because of personal clashes with the company's chairman, Hu Hung-chiu. Chen had been at the company for nine years. He has also stepped down from his posts on the boards of two other Mosel companies - ChipMos and ProMos. He remains chairman of TwinMos, the group's smallest company. The official reason for his departure was given as "personal reasons". ®

Providing a secure and efficient Helpdesk

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.