Chiang retires from TSMC leaving two in CEO race

Bloomberg

Sat, Sep 28, 2013 - Page 14

Chiang Shang-yi (蔣尚義), an executive vice president at Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and one of three candidates shortlisted to succeed chief executive Morris Chang (張忠謀), will retire on Oct. 31, the company said yesterday.

The 67-year-old Chiang is also a co-chief operating officer at the world’s biggest contract chipmaker, overseeing the firm’s research and development division. He will continue to serve as an adviser to the company and sit on its board, the company said.

Chang, 82, will run the research and development division from Nov. 1, TSMC said in a statement.

Chang said in July he would give up the CEO’s role next year and remain as chairman.

TSMC, which posted record-high revenue of NT$55.1 billion (US$1.86 billion) last month, last year promoted Chiang, Mark Liu (劉德音) and Wei Che-chia (魏哲家) as co-chief operating officers. The three executives would be groomed for the CEO’s position by taking turns heading the research and development, business development and the operations divisions in six-month stints, the company said at the time.

“The two other co-chief operating officers are still candidates for succession,” TSMC spokeswoman Elizabeth Sun (孫又文) said by telephone, adding that only Chang could answer questions about the succession.

Chiang joined TSMC in 1997 and led the firm’s research and development team through five generations of technology, from 0.25 micron to 65 nanometer. He first retired in 2006, but was invited by Chang to return in 2009, and has since guided development of the 28 nanometer, 20 nanometer processes and into the 16 nanometer FinFET generation.

Additional reporting by staff writer