The Managers and Supervisors of Mega Bank shall be appointed by Mega Financial Holding Company. The Board of Directors of the MFHC consisted of 15 directors, three of whom were independent directors. Both the Audit Committee and the Remuneration Committee were chaired by independent directors. A total of 15 directors were on the board of Mega Bank at the beginning of 2016. Tsai Yeou-Tsair, Chairman of the Board, was also Chairman of the MFHC. Wu Hann-Ching was the President and Chief Executive Officer of both Mega Bank and MFHC. In addition, there were two managing directors, eight additional non-independent directors, two independent directors and an independent managing director on the board. Three of the 10 non-independent directors also held executive positions at the MFHC.

Any corporate governance concerns?