AUO’s CEO Steps Down

AU Optronics’ (AUO) founder and chairman, Lee Kun-yao has resigned and will be succeeded by Paul Peng. The company said that Lee decided to step down earlier than planned as he had confidence in Peng to move the company forward. Peng is credited with steering AUO through the display industry’s worst slump and the company’s toughest period. The announcement led some sources in Taiwan to speculate that the change at the top of AUO could put a merger with rival panel maker Innolux back on the table.