Tsao Mihn, former vice president of CPC Corp., was named as president of Formosa Petrochemical Corp., effective immediately. He replaces Su Chi-yi, who resigned in July due to a series of accidents at Formosa's plants in Mailiao.Mihn said that he will focus on incorporating new safety procedures for the company's facilities to ensure that similar accidents do not occur in the future.

Last week, the Taiwan government requested that Formosa incorporate rotating shutdowns at its Mailiao petrochemical complex to perform a series of safety checks that must be completed by August 2012.