Early Life
Douglas Hsu was born on August 24, 1942. He earned a Bachelor of Arts/Science and a Master of Arts from the University of Notre Dame. His early life and education laid the foundation for his future business endeavors.
Rise to Success
Hsu joined Far Eastern Textiles in 1980, at the age of 38, and guided the company through significant periods of growth and diversification. Under his leadership, the company was renamed Far Eastern New Century in 2009. He transformed the business, initially focused on textiles, into a vast conglomerate with interests in petrochemicals, building materials, retailing, transportation, and financial services. His strategic decisions and vision have been pivotal to the group's expansion.
Key Business Strategies
Hsu's key strategies included diversification across various sectors, aligning with Taiwan's economic growth and the evolving needs of consumers. He expanded into cement and construction, retail, sea and land transportation, petrochemicals, energy, financial services, communications networks, and tourist hotels. His approach was characterized by stability and a long-term perspective, navigating complex challenges with caution and foresight. Furthermore, his focus on sustainability and innovation has helped the group adapt to market changes.
Philanthropy
The Far Eastern Group, under Hsu's leadership, has established family foundations that encourage social responsibilities, including the establishment of leading private universities and a medical center hospital in Taiwan.