Delta chairman announces plan to retire

“Please don't worry about my retirement as Delta is a sound firm. I have full confidence the person succeeding me will do a great job,” he said.

After retirement, Cheng said he will devote most of his time to volunteering work as well as energy conservation.

Delta will hold a board meeting on June 28, during which a new chairman will be elected. It is widely expected that Hai Ying-chun, Delta CEO, will be elected as chairman.

Also during the shareholders' meeting, Cheng expressed his admiration for Delta, which he said launched products that helped consumers save 3.3 billion kilowatt-hours of electricity last year, equivalent to the reduction of 2.02 million tons of carbon dioxide.

He recalled that 2011 was a chaotic year in which many disasters happened. The March 11 earthquake in Japan triggered a tsunami that sharply weakened the country's economy. The impact of the nuclear crisis resulting from the tremor is still felt today.

Thailand meanwhile saw its biggest flood in half a century, impacting many areas of the information technology supply chain.

While the company did not meet its financial goals for 2011, it kept its leadership status in the power management, electric fan and parts and components sectors, Cheng said.

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