The nation’s No. 2 LCD panel maker said in a statement that its board of directors on May 11, approved Lee’s resignation and promoted CEO Paul Peng to succeed Lee.

However, AUO and Innolux Co. have been popularly known as the “two tigers of flat panel display”, the resignation of Lee Kun-yao also raised concerns about will the two tigers finally become one.

Zhang Xiao-biao suggested that Chinese panel makers aim at surpassing Taiwan in the near future to become the world second largest panel provider, “The integration, or even mergers and acquisitions of Taiwanese panel makers is a must, but it’s hard to realize. Who’s going to buy the other one?”

Furthermore, he considered that AUO and Innolux moved higher lately, outperforming the broader market, on expectations of stronger shipments this year. “The possibility of a merger the two is low.” Zhang added.