TAIPEI, Taiwan—Former Maxxis International President Wally Chen has agreed to come out retirement and become chairman of the company.
Prior to retiring in 2016, Chen spent 42 years with Maxxis—a.k.a. Cheng Shin Rubber Ind. Co. Ltd.—including 24 years, from 1992 through 2016, as president.
He will assume the chairmanship effective immediately following a vote by the company's board of directors at a recent meeting. The company said his return is considered a move to strengthen Maxxis' global market presence.
During his tenure as president, Maxxis grew steadily from a primarily Asian-based, second-tier company to the No. 9 global tire maker. At the time of his retirement, Maxxis had fiscal revenue of $3.9 billion and sales companies throughout Asia, Europe and the Americas, including Maxxis International–USA in Suwanee, Ga.