SMIC Says Vice-Chairman Chiang Shang-Yi Has Resigned Months After Chairman’s Exit

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China’s largest chipmaker, Semiconductor Manufacturing Worldwide Company, stated its vice-chairman has resigned in a management reshuffle lower than a yr after he took the function.

Chiang, a former analysis director at Taiwan’s TSMC, joined SMIC in late December. The corporate stated he had resigned from his vice-chairman place in addition to from the board with impact from Thursday to be able to spend extra time together with his household.

His departure comes simply two months after SMIC’s chairman, Zhou Zixue, additionally resigned citing well being causes.

Apart from Chiang, three different members additionally resigned from the board, together with co-chief govt officer Liang Mong Tune who had threatened to give up in December final yr. He would stay in his govt function, SMIC stated.

The resignations weren’t because of any disagreements with the board and the corporate didn’t anticipate the strikes to have a fabric impression on its operations, it stated.

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 because 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 robust as a worldwide chip scarcity has boosted demand.

Its third-quarter revenue rose 22.6 %.

© Thomson Reuters 2021


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