Edward Hsieh
SemiLEDsAbout Edward Kuan Hsiung Hsieh
Independent director since February 2012; age 73. Background spans technology, telecom, finance and academia: Chairman/CEO of Eton Intelligent Technologies and VR Networks; former CEO of Asia Pacific Telecom; Adjunct Professor at National Taiwan University; prior International Financial Adviser at Merrill Lynch. Holds B.S. (National Taiwan University), M.S. (UC Santa Barbara), and Ph.D. in Electrical Engineering & Applied Physics (Cornell), with additional accounting study at UCLA .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Eton Intelligent Technologies | Chairman & CEO | Since Apr 2000 | Led media/publications strategy and operations |
| VR Networks | Chairman & CEO | Since Jan 2000 | Led VoIP/VR application business |
| National Taiwan University | Adjunct Professor | Since Feb 2009 | MBA teaching; governance/finance expertise |
| Asia Pacific Telecom | Chief Executive Officer | Feb 2007–Feb 2010 | Executive leadership of 3G mobile/fixed-line operations |
| APOL (ISP) | Executive Director | Not disclosed | Oversight of internet service provider operations |
| Merrill Lynch, Pierce, Fenner & Smith | International Financial Adviser | Not disclosed | Capital markets and advisory experience |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Eton Intelligent Technologies | Chairman & CEO | Private | Media and publications business |
| VR Networks | Chairman & CEO | Private | VoIP and VR applications |
| National Taiwan University | Adjunct Professor | Academic | MBA-level instruction |
| Asia Pacific Telecom | Former CEO | Public (historical) | Telecom operator in Taiwan |
| APOL (ISP) | Executive Director | Private | Internet service provider |
Board Governance
- Independence: Board determined Dr. Hsieh is independent under Nasdaq/SEC rules and he is the Audit Committee chair; LEDS is a “controlled company” under Nasdaq and relies on exemptions (no requirement for a majority-independent board or fully independent Compensation/Nominating committees) .
- Committee assignments: Audit Committee Chair; Compensation Committee member . Recognized as an “audit committee financial expert” (Reg S‑K) .
- Attendance and engagement: Board held 5 meetings in FY2024; all directors except the mid-2024 addition attended ≥75% of Board/committee meetings; independent directors held executive sessions at the end of every Board meeting .
- Leadership structure: CEO serves as Chair; no Lead Independent Director appointed .
- Committee activity (FY2024): Audit (4 meetings), Compensation (3), Nominating & Corporate Governance (3) .
| Governance Element | Value |
|---|---|
| Independence status | Independent |
| Audit Committee | Chair; financial expert designation |
| Compensation Committee | Member |
| FY2024 attendance | ≥75% of meetings (Board expectation met) |
| Executive sessions | Independent directors after each Board meeting |
| Lead Independent Director | None |
| Controlled company | Yes; exemptions used |
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| Annual Board cash retainer | $0 (policy removed cash retainers) |
| Committee membership fees | $0 |
| Meeting fees | $0 |
| Annual equity grant (RSUs) | 5,000 RSUs per year; granted shortly after annual meeting |
| Vesting | Fully vests on earlier of next annual meeting or one-year anniversary; full vest on change-in-control |
| FY2024 grant fair value (Hsieh) | $23,850 |
| Renomination condition | ≥75% meeting attendance required |
| Director ownership guideline | Expected to hold company shares until retirement from Board |
Performance Compensation
| Element | Metrics/Terms |
|---|---|
| Performance-based RSUs/PSUs | None disclosed for directors |
| Options for directors | Not part of director compensation policy (RSU-based structure) |
| Clawbacks on director equity | Not disclosed in proxy for directors |
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Current public company boards | None disclosed |
| Private/academic boards | Eton Intelligent Technologies, VR Networks; National Taiwan University (Adjunct Professor) |
| Interlocks (competitors/suppliers/customers) | None disclosed for Hsieh |
| Controlled shareholder context | Voting Agreement between Simplot-affiliated holders and CEO’s trust controls ~57% voting power; not an Hsieh-related interlock but relevant to board dynamics |
Expertise & Qualifications
- Technical: Electrical engineering and applied physics (Cornell Ph.D.); telecom/VoIP operations leadership .
- Financial/governance: Audit chair; audit committee financial expert designation; prior financial advisory experience .
- Academic: MBA teaching; Adjunct Professor at National Taiwan University .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Outstanding | Notes |
|---|---|---|---|
| Edward Kuan Hsiung Hsieh | 44,821 | <1% | As of July 2, 2025; no detail on vested vs. unvested split |
| Ownership guideline | Expected to hold shares until retirement | — | Board policy |
| Hedging/pledging | Hedging prohibited; margin/pledge discouraged by Insider Trading Policy |
Governance Assessment
- Strengths: Independent status; Audit Chair with “financial expert” designation; consistent attendance; RSU-only director pay aligns with shareholder interests and ownership guidelines; insider policy bans hedging and discourages pledging .
- Risks/RED FLAGS (structural): Controlled company relying on Nasdaq exemptions means Compensation and Nominating committees are not fully independent; CEO is Board Chair; no Lead Independent Director; ~57% voting power consolidated via Voting Agreement (potential minority shareholder influence concerns) .
- Conflicts/related-party exposure: No related-party transactions disclosed involving Hsieh; material related-party financing exists between the company and CEO/Simplot affiliates (share-settled loan repayments and convertible notes) which can affect governance optics though not linked to Hsieh .
- Director compensation alignment: No cash retainers/meeting fees; annual RSU grants with simple vesting; no performance metrics disclosed for director equity, limiting pay-for-performance signals but reducing complexity/option repricing risk .
Overall: Hsieh’s audit leadership and independence support board effectiveness. The primary investor-confidence considerations stem from LEDS’s controlled-company status, lack of a Lead Independent Director, and related-party financing with controlling holders—none attributable to Hsieh personally but relevant to governance quality .