SMIC Says Vice-Chairman Chiang Shang-Yi Has Resigned Months After Chairman’s Exit
China’s largest chipmaker, Semiconductor Manufacturing Worldwide Company, mentioned its vice-chairman has resigned in a management reshuffle lower than a 12 months after he took the function.
Chiang, a former analysis director at Taiwan’s TSMC, joined SMIC in late December. The corporate mentioned he had resigned from his vice-chairman place in addition to from the board with impact from Thursday so as to spend extra time along with his household.
His departure comes simply two months after SMIC’s chairman, Zhou Zixue, additionally resigned citing well being causes.
Moreover Chiang, three different members additionally resigned from the board, together with co-chief government officer Liang Mong Tune who had threatened to stop in December final 12 months. He would stay in his government function, SMIC mentioned.
The resignations weren’t as a consequence of any disagreements with the board and the corporate didn’t anticipate the strikes to have a cloth impression on its operations, it mentioned.
SMIC, China’s largest contract chipmaker which is partly backed by a state-affiliated chip fund, is on the forefront of China’s cost to meet up with Japan, South Korea, and the USA in chip expertise.
The corporate is on a US blacklist that denies it superior manufacturing tools from US suppliers as a consequence of its alleged ties to China’s army, claims SMIC rejects.
The measures disrupted the corporate’s plans to maneuver into high-end chip making, however its monetary efficiency has been sturdy as a worldwide chip scarcity has boosted demand.
Its third-quarter revenue rose 22.6 %.
© Thomson Reuters 2021