Chunghwa Telecom announced the appointment of Shui-Yi Kuo, chief financial officer, as the new president of the company.

The development follows the promotion of the former president Chi-Mau Sheih to chairman and CEO of Chunghwa Telecom.

Chunghwa Telecom will be looking for a new CFO to head the financial functions. Shui-Yi Kuo will have the additional responsibilities of the CFO till the company finds a new person in the CFO role.

Chunghwa Telecom said Shui-Yi Kuo, its new president, has been with the company since 2001 handling several leadership roles.