Harvey Chang, president and chief executive officer of Taiwan Mobile, has decided not to renew his employment contract after seven years of service.

An announcement published by Taiwan Mobile said that Chang has decided not to renew his employment contract with Taiwan Mobile upon its expiration on September 30, 2010. The company held a board meeting on October 1 and the board has accepted Chang's decision.

Since Chang took the position of president of Taiwan Mobile in September 2003, the company's share price has doubled and its growth rate has exceeded its competitor Chunghwa Telecom.

Chang, however, will continue his current capacity as the president and CEO until the end of 2010 to facilitate the transition. After then, Chang will assume the position as vice chairman of Taiwan Fixed Network Co., Ltd., which is a wholly owned subsidiary of Taiwan Mobile. The board has also decided that the successor will be selected internally and be announced shortly.